Sanima is country’s 32nd commercial bank
The Nepal Rastra Bank (NRB) board on Thursday decided to award commercial bank license to Sanima Bikas Bank.
With the central bank issuing the operating license, Sanima, a national-level development bank, has become the country’s 32th commercial bank.
In October 2011, the bank had received letter of intent from NRB for upgradation.
Promoted by Non-Resident Nepalis (NRNs), Sanima had applied at NRB for upgradation about two years ago.
With the central bank keeping moratorium on bank licence issuance, the approval process took a bit longer.
The bank, after applying for upgradtion, increased its paid-up capital to Rs 2.01 billion from the earlier Rs 800 million by issuing 1:15 rights shares.
Posted on: 2012-02-10 09:44
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