NRB releases NB Bank

KATHMANDU, JAN 15 - After three years of Nepal Rastra Bank (NRB) control, Nepal Bangladesh (NB) Bank has elected new board of directors.

The bank's Annual General Meeting held on Wednesday elected seven board members including Tirtha Man Shakya and Laxmi Bahadur Shrestha from Nepali promoters and Irfanuddhin Ahamad and Md. Lufter Rahaman representing Bank Asia Bangladesh  and IFIC Bank of Bangladesh.

Likewise, Indra Bahadur Thapa, Bishnu Raj Adhikari and Amrit Nath Regmi were elected representing the ordinary shareholders. All the seven board of directors were elected unanimously. The central bank took control of the bank on Nov. 12, 2006 after the bank's financial status deteriorated due to financial indiscipline on part of the promoters.

NB bank officials said at a press meet on Thursday that the central bank now has handed it back to the NB management as it has made substantial progress in the areas of financial status, capital fund and recovering loans.

Posted on: 2010-01-15 09:56