Stock related news & regulations of Nepal Rastra Bank

Kathmandu, June 11 - Nepal Rastra Bank has said there will be no revision in the fast approaching deadline given by the central bank to the banks and financial institutions (BFIs) to raise their paid-up capital.

Inaugurating the joint operation of Century Commercial Bank after its acquisition of Innovative and Araniko Development Banks, Nepal Rastra Bank (NRB) Governor Chiranjibi Nepal said that the central bank will take action against BFIs that do not meet revised paid-up capital requirement.

The central bank may put a cap on deposit collection, credit expansion and branch expansion of the BFIs that do not meet the paid-up capital requirement fixed by the central bank. Stating that the paid-up capital requirement for BFIs had been raised for stability of the financial sector, Governor Nepal further said stable financial system is a must for sustainable and inclusive growth of the economy.

By mid-July this year, commercial banks need to meet the revised paid-up capital requirement of Rs eight billion. The requirement for national level development bank has been set at Rs 2.5 billion, development banks working in four to 10 districts should have paid-up capital of Rs 1.2 billion, and development banks working in one to three districts should have such capital of Rs 500 million. The paid-up capital requirement for national level finance companies has been set at Rs 800 million and finance companies working in one to three districts should have paid-up capital of Rs 400 million, as per the central bank.

During the joint operation inauguration programme here today, Century Commercial Bank informed that its paid-up capital currently stands at Rs 4.71 billion, but the bank will be able to meet the paid-up capital requirement as its joint operation with Sagarmatha Finance, Alpine Development Bank and Seti Finance will begin within this fiscal.

Century Commercial Bank is also preparing to issue 40 per cent rights share to meet the paid-up capital requirement of Rs eight billion by the end of this fiscal.

Source: The Himalayan Times

Corporate News

NRB sets criteria for CEOs, directors of BFIs

Kathmandu, August 3 - Nepal Rastra Bank (NRB), the central monetary authority, has set the basic qualification criteria for chief executive officers and board of directors of banks and financial institutions (BFIs) in line with the provision of the Banks and Financial Institutions Act.

Read more ...

Century Bank acquires Sagarmatha Finance

KATHMANDU , July 16: Century Commercial Bank Ltd has acquired Sagarmatha Finance. Issuing a press statement on Saturday, the bank said the integrated operation has started on Saturday.

Read more ...

Nepal Stock Exchange to go fully automatic in Nov

Jul 8, 2017- The Nepal Stock Exchange (Nepse) will be entering a new era on November 7 when it goes fully automatic. The country’s only stock exchange has planned to launch a fully automated online trading system.

Read more ...

Nepse loses 22 points

KATHMANDU, July 3: Nepal Stock Exchange (Nepse) index plunged 21.99 points on Sunday as the government's preparation to bring brokerage commission within the scope of value added tax (VAT) sends panic among investors.

Read more ...
Symbol % Change Last Price Turnover
SFFIL 9.9778 496.0 2,259,970.0
NMBSF1 7.1429 15.0 770,620.0
SHPC 5.8824 576.0 9,567,952.0
NBF1 4.3478 24.0 33,080,361.0
SDESI 3.6810 338.0 7,376.0
Symbol % Change Last Price Turnover
UICPO 0.0 6,791,008.0
GLICLP -100.0000 0.0 13,679,100.0
HDL -9.4611 1,512.0 155,790.0
NGBBL -5.5024 790.0 15,691,908.0
KEBL -5.3933 421.0 37,600.0
Symbol % Change Last Price Turnover
NLIC -0.4169 2,150.0 48,639,865.0
NLICLP -4.4000 1,195.0 33,460,360.0
NBF1 4.3478 24.0 33,080,361.0
FOWAD -0.4924 3,840.0 20,603,338.0
SCB 0.0438 2,286.0 19,683,959.0