::: Latest Buzz on Nepalsharemarket

Monday, September 14, 2009

Nepse rebounds along with higher Turnover

Nepal stock exchange gained on the opening day of week, Sunday after plunging for four straight sessions to around low of eight months. The psychology of general investor was haunted by fear on floating promoters¿ shares, political chaos and anxiety on government policies to guide the share market amid the dividend declaration by companies after the spurring profit of fiscal year 2065/66. However, the sole secondary market rebounded from earlier loss to add 2.55 points or 0.42 percent to 617.34 on higher turnover, but yet low for more than seven months.
The turnover at Nepse surged to Rs. 149.399 million with a motivating gain, boosted the outlook of investors to demand for more scrip in coming sessions. The general investor¿s outlook had followed by the bear crawl on fear of government policies to implement the Pan number for trade more than 1 million and disclosure of sources of fund for more than 2 million trades. Likewise, People were selling ahead of Dashain and Tihar to finance their festival even at the lower price, however on the other side some people holding optimistic outlook were buying the scrip.
The sectoral indexes traded at secondary market today witnessed mixed performance. Commercial bank, hydropower and others lead the gaining rally where as rest of the indexes plunged down. Commercial bank having its dominance in trade volume heaved up 2.23 points or 0.37 percent to close at 606.88, led by 9.79 percent rise in price of
Lumbini bank (C:314, O: 286), SCB (O: 5039, H: 5197, C: 5089, Rs. +50), SBI (1591, Rs. +31) along with others. Others index rose 8.22 points or (+1.27%) to 653.24 on increase in scrip price of Nepal Telecom(O: 549, H: 558, C: 556). Hydro gained 6.45 points or 0.78 percent, however development bank slid 4.58 points to 665.41, finance plummet 1.14 points to 637.18 and insurance down 0.52 points.
The puff-up in demand of some scrip from commercial sector, hydro sector led domestic blue chip, 78 scrip sensitive index to settle at 157.68 adding 0.26 points or 0.17 percent. 14 commercial banks, 37 finance companies, 15 development bank, 10 insurance companies and one each from hydropower and manufacturing companies are included in sensitive index. Similarly, float Index an indicator of performance of ordinary shares in the market rose 0.06 points to 58.59.
Merely 71 companies registered their presence in the secondary market with 27 gainers and 33 losers. The A-D ratio was maintained at .82. All in all 918185 shares traded today via 1152 transactions. Moreover, Rs. 149399738 turnover was realized along with Rs.429486.31 million market capitalizations. On Thursday, Rs. 108687911 turnover was realized from 180963 shares trade along with Rs.427711.92 million market capitalizations. The increase in volume of trade and turnover signifies that there are lots of buyers in the market having optimistic outlook at near term.
The top five standouts of the day are
GFCLPO(260%), LUBL( 9.79%), PRFL( 5.81%), EFL( 5.35%), STFL(4.74%). Whereas, NCM(-7.56%), IMEFI(-6.83%), NCCB( -4.55%), IDBL( -4.51%), SDBL( -4.14%). comprised of the top five losers.

Sunday, September 13, 2009

Investment Bank NIBL, Yeti sign e-ticketing MoU

Nepal Investment Bank Limited (NIBL) has signed Memorandum of Understanding with Yeti Airlines to allow the NIBL account holders to book and purchase air tickets via NIBL e-Banking. The partnership will help the customers to enjoy the ultimate banking experience by providing easier and convenient option for ticket purchase through secured website environment and is also expected to propel the efficiency level of the distribution channel and reduce operational costs for the airline, according to a NIBL press release.
Any customer with NIBL eBanking account can purchase the air-ticket by filling the requisite information set at the Yeti Airlines website. After receiving the conformation from the airlines, the customers can make their payments online by clicking the NIBL eBanking button in Yeti Airline's website. Once the payment is confirmed, the customers shall be redirected back to the Yeti Airlines webpage where they would be provided with the confirmation code allowing them to print the e-Ticket.
The eBanking facility has been very popular amongst the customer as they can make various utility payments like school bills, cable TV bills, airline ticket purchases etc, needless to mention the payment of postpaid mobile bill payment and prepaid top ups, according to NIBL.

Cash Dividend of Prabhu Finance Co. Ltd.

Prabhu Finance Co. Ltd. has decided to provide 10.53 % (including tax) cash dividend from its BOD meeting held on 11th September 2009 (2066 Bhadra 26). The dividend will be finalized by the Central Bank of Nepal and the upcoming AGM of the company. According to fourth quarter financial report of the company, it had earned Rs. 23.828 million net profit and Rs. 32.800 million operating profit. Likewise, the company has Rs. 160 million paid up capital and holds Rs. 28.662 million in its reserve and surplus.
Source:
Jamb News Service

Insurance Board tights screw on insurance firms

The Insurance Board (IB) is not going to accept annual reports of insurance companies if the insurance on credit was also included in the income of the company. IB officials said the company would have to make provisions so that the credit amount is not reflected on its earnings. As the trend of the insuring on credit has increased in the last few years, the IB decided to tight its screw to discourage such a tendency. The non-life insurance companies had been insuring on credit amid tough competition among insurance companies. As many as 12 out of 17 non-life insurance companies have insured Rs. 130 million on credit until fiscal year 2007/08, according to IB. The companies insuring on credit are to recover from Rs. 48,000 to Rs. 30 million from such insured.
The companies are yet to submit their annual reports of fiscal year 2008/09 to the IB. But, Rastriya Beema Sansthan has not submitted its annual reports to the IB as it has been unable to hold annual general meeting for several years. IB chairman Phatta Bahadur K.C said that the regulatory body has also asked the companies to write off such amount and come clean regarding the insurance on credit while submitting their annual report for fiscal year 2008/09. The companies have also said that the tendency of insuring on credit would come down heavily amid the IB direction. "We have also reformed this process," said Deep Prakash Pandey, president of Insurers' Association. "We have stopped giving bills if we are not paid premiums."
He said that the companies were planning to register insurance policies only after payment of premiums. Those who are insured on credit don't get insurance coverage in case of damages to their vehicles, according to IB. K.K Shrestha of Everest Insurance also said that the insurance on credit decreased significantly in last fiscal year. Although the amended Insurance Act and Regulation have prohibited insurance on credit, the companies had been insuring just to show more policies amid tough competition, according to insurers. Pandey said that the amount of insurance on credit had ballooned as the corporate sectors failed to pay premium on time.
Source: ekantipur.com

NEPSE > Today's Share Price As of 2009-09-13

S.No.

Traded Companies

No.of Transaction

Max. Price

Min. Price

Closing Price

Total Share

Amount

Previous Closing

Difference Rs.

1

Annapurna Bikash Bank Limited

53

405

398

401

2,285

917,275

401

0

2

Bageshowori Dev.Bank

1

618

618

618

100

61,800

630

-12

3

Business Development Bank Ltd.

39

601

590

600

4,080

2,434,510

600

0

4

Bank of Asia Nepal Limited

49

510

493

505

3,620

1,807,110

505

0

5

Bank of Kathmandu

39

1,515

1,480

1,491

3,565

5,306,874

1,483

8

6

Clean Energy Development Bank Limited

37

732

715

731

1,290

932,490

725

6

7

Chilime Hydro power Co.

3

1,060

1,040

1,060

410

430,200

1,040

20

8

Citizen Investment Trust

1

715

715

715

30

21,450

714

1

9

Civil Merchant bittya sanstha

1

388

388

388

20

7,760

395

-7

10

Citizens Bank International Limited

112

654

624

642

4,285

2,703,860

628

14

11

DCBL Bank Ltd.

7

335

330

334

2,341

777,042

336

-2

12

Everest Bank Ltd

15

2,210

2,175

2,199

1,284

2,815,419

2,240

-41

13

Everest Bank Limited Convertible Preference

24

907

875

890

640

568,040

907

-17

14

Excel Development Bank Ltd.

1

318

318

318

20

6,360

312

6

15

Everest Finance Ltd,

3

374

360

374

290

106,500

355

19

16

Global Bank Limited

39

480

460

475

2,410

1,131,060

481

-6

17

Gurkha Development Bank

2

701

700

700

110

77,010

715

-15

18

Goodwill Finance Co. Ltd.

14

653

640

652

1,057

685,943

653

-1

19

Goodwill Finance Co. Ltd. Promoter Share

1

360

360

360

10,000

3,600,000

0

360

20

Gorkha Finance Ltd.

2

312

310

310

79

24,598

318

-8

21

Himalayan Bank Ltd.

4

1,580

1,550

1,560

193

300,980

1,550

10

22

Himalayan Gen.Insu. Co.Ltd.

3

280

280

280

83

23,240

285

-5

23

ICFC Bittya Sanstha Ltd.

19

425

416

416

936

396,020

426

-10

24

Infrastructure Development Bank Limited

24

435

422

423

1,600

685,380

443

-20

25

International Leasing And Fin. Co.

11

510

500

510

1,511

756,790

500

10

26

IME Financial Institution

7

990

941

941

900

870,800

1,010

-69

27

Janaki Finance Ltd.

1

445

445

445

25

11,125

445

0

28

Kaski Finance Limited

2

370

370

370

40

14,800

369

1

29

Kumari Bank Ltd

12

635

620

631

1,225

769,337

617

14

30

KIST Bank Limited

6

330

329

329

700

230,600

335

-6

31

Kuber Merchant Bittiya Sanstha Limited

7

695

683

685

310

212,270

696

-11

32

Laxmi Bank Limited

4

897

880

885

7,890

6,981,290

915

-30

33

Lumbini Finance Ltd.

2

526

526

526

45

23,670

530

-4

34

Lumbini General Insurance

48

172

169

170

630

107,500

171

-1

35

Life Insurance Co. Nepal

1

700

700

700

10

7,000

700

0

36

Lumbini Bank Ltd.

9

314

291

314

1,417

432,511

286

28

37

Machhachapuchhre Bank Ltd

8

336

326

336

1,080

359,645

343

-7

38

Malika Bikash Bank Limited

1

388

388

388

300

116,400

388

0

39

Merchant Finance Company Limited

1

275

275

275

130

35,750

275

0

40

Nepal Aawas Bikas Beeta Co. Ltd.

12

306

300

300

1,413

427,890

300

0

41

Nabil Bank Ltd.

30

2,710

2,680

2,700

1,475

3,979,887

2,701

-1

42

Nepal Bangladesh Bank Ltd.

37

276

270

275

14,913

4,039,323

271

4

43

Nepal Credit And Com. Bank

9

314

288

294

2,980

872,090

308

-14

44

NIDC Capital Markets Ltd.

6

882

832

832

403

345,489

900

-68

45

Nepal Finance and Saving Co.Ltd.

3

423

415

420

545

228,755

414

6

46

Nepal Housing And Merchant Fin.

2

360

360

360

122

43,920

360

0

47

National Hydro Power Co.

14

90

88

89

809,714

72,072,560

90

-1

48

Nepal Investment Bank Ltd.

11

914

895

914

1,762

1,599,098

897

17

49

Nepal Industrial And Co.Bank

13

850

835

850

1,802

1,513,964

846

4

50

NMB Bank Ltd.

7

382

375

382

970

365,720

381

1

51

Nepal Share Markets Ltd.

1

270

270

270

100

27,000

271

-1

52

Nepal Doorsanchar Company Limited

20

558

549

556

3,100

1,712,220

549

7

53

Peoples Finance Limited.

6

246

244

245

2,306

566,904

246

-1

54

Pokhara Finance Ltd.

2

447

440

440

200

88,700

456

-16

55

Purwanchal Grameen Bikash Bank Limited

1

1,095

1,095

1,095

50

54,750

1,095

0

56

Prabhu Finance Company Limited

7

565

544

565

350

195,400

534

31

57

Pashupati Development Bank Limited

121

470

445

455

5,270

2,428,160

452

3

58

Reliable Finance Limited

32

743

690

730

520

369,480

697

33

59

Sanima Vikash Bank Ltd.

2

560

560

560

504

282,240

559

1

60

Nepal SBI Bank Limited

14

1,591

1,570

1,591

1,758

2,771,970

1,560

31

61

Siddhartha Bank Limited

25

770

750

760

2,343

1,780,436

770

-10

62

Shikhar Bittiya Sanstha Limited

19

324

319

319

330

105,810

324

-5

63

Standard Chartered Bank Ltd.

30

5,197

4,990

5,089

2,970

14,915,597

5,039

50

64

Siddhartha Development Bank Limited

10

265

255

255

1,690

440,650

266

-11

65

Shree Investment Finance Co. Ltd

1

730

730

730

200

146,000

740

-10

66

Siddhartha Insurance Limited

63

173

168

168

640

109,080

170

-2

67

Standard Finance Ltd.

8

265

255

265

1,769

458,428

253

12

68

Subhechha Bikas Bank Limited

1

691

691

691

10

6,910

700

-9

69

Swabalamwan Bikash Bank

5

595

585

595

373

220,780

595

0

70

Triveni Bikas Bank Limited

26

738

710

738

650

475,030

749

-11

71

World Merchant Bank Ltd

1

424

424

424

12

5,088

417

7


Total Traded Amount Rs.:149,399,738
Total Traded Shares:918,185
Total Transactions:1,152

Small depositors may get back partial deposits.

REPUBLICA
KATHMANDU, Sept 13: Small depositors of troubled Nepal Development Bank (NDB), which is subjugated at the Patan Appellate Court for liquidation, could be allowed to withdraw 50 percent of their savings or Rs 200,000, whichever is higher, before the Dashain festival that is a couple of weeks away. The possibility emerged after the court-appointed investigation authority TR Upadhyaya, mandated to suggest norms for refunding savings of small depositors, recommended the county to allow small depositors withdraw part of their savings. The central bank that previously assured the small depositors of getting their deposits back has also given its nod for partial withdrawal.
"I made the recommendation considering that many of you might direly need the money to celebrate upcoming festivals," said senior chartered accountant TR Upadhyaya, addressing the depositors and public shareholders of the bank. He, however, clarified that his proposal would need approval of the court to come into implementation.Depositors of the bank said they were hopeful of the court taking ´practical´ considerations while deciding on the matter on Wednesday.Upadhyaya elaborated that he was under a serious pressure of categorizing small depositors from other depositors. "There are small-time depositors as well, and if I say all-time deposit holders are big, then it will be great injustice for them. Unfortunately, the existing laws do not size depositors as small or big," said he.As for the fate of the bank, whose all assets have been frozen and which has been pushed for liquidation by the central bank, Upadhyaya said he was still working on whether the bank can be sustainably restructured.
According to the information disseminated at the program, a group led by Badri Bhattarai have submitted NDB revival proposal to the investigation authority, promising to re-inject capital of Rs 640 million -- something that is needed to do away with its negative net worth. The team also includes past promoters and has already deposited capital of Rs 250 million. It has also submitted a commitment of bank guarantee for additional Rs 240 million. The group, however, said that it will generate remaining money by disposing frozen assets of the bank and recovering Rs 90 million that the bank has deposited in Nepal Cooperatives.Responding to NDB depositors and shareholders, Upadhyaya said it would be in the interest of both individual depositors and shareholders to revive the bank than liquidate it. "But it is difficult to convince over the proposal submitted so far. I cannot say NRB to release the assets as well," said Upadhyaya. He further added that he would report his suggestions to the court soon. Based on his report, the court will decide on whether to grant permission to NRB to liquidate the bank.NRB lodged a petition at the Patan Appellate Court in June after its June 2 board meeting decided to send the long-troubled bank into liquidation, concluding that all its five-year long effort to revive the bank failed because of incompetent and defiant management.

Longest nosedive yet for secondary market

Himalayan News Service
KATHMANDU: As expected, the books closing of financial institutions dragged Nepse down to the lowest yet in 2009.All key market propellors commercial banks, development banks, financial institutions and hydropower companies lost this week to pull Nepse by a whopping 55.61 points to 614.79 points from Sunday morning’s opening of 660.40 points.

The hotels sub-group that did not see its shares traded while manufacturing sub-group gained by 4.41 points to reach 438.35 points from Sunday morning’s opening of 433.94 points.
Unilever Nepal Ltd’s 10-unit shares that were traded at Rs 4,346 per unit making it dearer by Rs 85 per unit pushed up the manufacturing sub-group by 4.41 points.Unilever Nepal has recommended Rs 450 cash dividend Rs 400 normal dividend and Rs 50 as commemorative dividend on the occasion of the completion of its 15 years of commercial production in Nepal from the profit of the last fiscal year when it registered a RS 2625.8 million turnover. The company also posted Rs 444 million net profit (after tax). It registered Rs 482.29 Earning Per Share (EPS) and 64 per cent Return on Equity (RoE) in the fiscal year 2008-09.
Though the week started in the green, gaining 2.17 points to 662.57 points on Sunday, it plunged by a whopping 55.61 points during the week.
Currently, banks and financial instituions dominate the secondary market and two institutions Standard Chartered bank Nepal and Nabil Bank are dominant players in the movement of Nepse, putting the secondary market under ‘concentration’ risk. Nabil Bank’s books closing on Tuesday dragged Nepse down by 27.42 points but the bank topped the chart in terms of transaction amount with Rs 67.83 million. Standard Chartered Bank Nepal followed with Rs 58.42 million, and Bank of Kathmandu (with Rs 36.49 million), Standard Finance (with Rs 34.99 million) and Nepal SBI Bank (with Rs 18.36 million) managed to come in the top five slot, respectively. In terms of number of share units traded, Standard Finance topped the chart with 1,35,000-unit shares changing hands while in terms of number of transactions Citizens’ Bank International topped the chart with 407 transactions.
The transaction amount increased by 40.08 per cent to Rs 483.89 million against last week’s fall of 32.63 per cent. Group-A companies contributed 70.71 per cent as against last week’s 67.75 per cent whereas the 78-scrip sensitive index a barometer of Group-A companies lost a hefty 16.20 points to drop to 157.42 points.
The float index calculated on the basis of real transactions also slid down by 5.14 points to drop to 58.53 points from Sunday morning’s opening of 63.67 points.

Ace Development Bank, WEAN ink accord

KATHMANDU: Ace Development Bank (Ace) and Women Entrepreneurs’ Association of Nepal (WEAN) signed an MoU to work jointly to empower disadvantaged — especially women — through generation of self-employment opportunities. Ace CEO Siddhant Raj Pandey and WEAN president Rita Bhandary signed the MoU on behalf of their respective organisations. Ace will provide training and access to finance for implementation of plans through WEAN. Ace has also provided Rs 1,00,000 to WEAN Training Fund. — HNS

Sunrise Bank’s new ATM

KATHMANDU: Sunrise Bank Ltd opened its 20th ATM in Nyatapola Bhaktapur on Friday. It was inaugurated by founder chairman of Bhaktapur Chamber of Commerce and Industry (BCCI) Ram Bahadur Tamrakar. “The bank plans to start to operate 26 ATMs — by adding ATMs in Ilam, Bardibas, Kakarvitta, Birtamode, Rajbiraj and at Lazimpat of Kathmandu soon, a bank statement read. Currently, the bank has 23 branches. Sunrise Bank has registered Rs 130 million operating profit in the fiscal year 2008-09. — HNS

Friday, September 11, 2009

3 new banks get Letter of Intent

11, Sep 2009
Nepal Rastra Bank has given three proposed commercial banks letter of intent (LoI) to open. These banks are Nepal Business Bank, People's Bank and Commerce and Trust Bank. Three other banks awaiting letter of intent are Century Bank Limited, State Bank of Nepal and Civil Bank said the central bank. Nepal Business Bank will have an authorized capital of Rs. 4 billion and a paid-up capital of Rs. 2.33 billion. There are 1,228 promoters in this bank. As per the proposed investment, the People's Bank and Commerce and Trust Bank will have a paid-up capital of Rs. 2 billion each, said NRB.
NRB director Laxmi Prapanna Niraula said that People's Bank and Commerce and Trust Bank have already deposited 50 percent of the paid-up capital in the NRB as per the requirement of the existing rules to get a letter of intent. "The Nepal Business Bank is also in the process of depositing the money within a few days," he said. The latter three banks have already deposited 5 percent of the paid-up capital which is required to go in the process to receive the LoI, according to him. Various business groups have invested in these upcoming banks. A group led by Madan Kumar Dahal and Duman Thapa have promoted Nepal Business Bank. Another group led by Arun Valley Hydropower, Jeep Chhiring Lama and others have put money in People's Bank. The bank has 898 promoters.
Commerce and Trust Bank has been promoted by a group led by Durga Prasad Neupane and Shova Neupane. There are 363 promoters in this bank. A group led by Bagmati Investment has promoted Century Bank in which there are 618 promoters. Likewise, a group led by GBSS Impex, Amit Kumar Begani and others has promoted the State Bank. A group led by Ichchha Raj Tamang of Civil Homes has promoted Civil Bank. The number of promoters of this bank is not known.
Although NRB has stopped giving license to new banks and other financial institutions, it has not stopped giving licenses to those who have already gone through the process of receiving the license. There are 26 commercial banks, 61 development banks, 78 finance companies, 13 micro-finance banks, 16 (NRB-licensed) cooperatives and 45 (NRB-licensed) non-government organizations under operation, according to NRB.
Source: ekantipur.com

Everest Bank to give 30% bonus shares & cash dividend

Everest Bank Ltd (EBL) board of directors has recommended 30 per cent bonus shares and 30 per cent cash dividend subject to permission from Nepal Rastra Bank and EBL's AGM. It has also approved the profit and loss account and balance sheet for the financial year that ended on July 16. The bank increased its net profit by 37 percent in comparison to the preceding year to Rs 638.7 million and its deposits also increased by 31 per cent and advances by 30 per cent during the financial year 2008-09. The NPA of the bank is at 0.48 per cent.
Source: THT

Everest Bank Ltd's 35th branch

Deputy Governor of Nepal Rastra Bank Bir Bikram Raymajhi inaugurated the 35th branch of Everest Bank Ltd (EBL) at Thamel on Thursday. The bank provides banking services through 60 points viz. 35 branches, five revenue collection counters, 20 authorized representatives in VDCs through Everest Ghar-Dailo Banking Sewa, a branchless banking system, said the bank that also inaugurated its 31 ATM counters on the premises. EBL debit card has access to more than 350 ATMs in Nepal and more than 2000 ATM locations in India.
Source: THT

Thursday, September 10, 2009

Nepal CSI renamed Manakamana Development Bank

10 SEPTEMBER, 2009,
The Extra Ordinary General Meeting of the Nepal CSI Development Bank held on Thursday decided to change the bank’s name to Manakamana Development Bank.
According to the press statement issued by the bank, the bank informed that it has increased its paid up capital to Rs. 700 million with the new equity investment of Rs. 540 million from the new promoters.
The bank has already started the process of issuing Rs. 300 million shares in Public. After the issue of public share, the paid up capital of the bank will be Rs. one billion, the bank said.
The bank notified that it would soon relocate its head office to Annapurna Arcade II located at Durbarmarg, Kathmandu.
Nepal CSI Development Bank is in complete restructuring process with the entry of new investors and management term, the press statement said.The bank registered net profit of Rs. 113 million in fiscal year 2008/09. Similarly, the bank has been able to maintain capital adequacy ratio of 59.67 per cent at fiscal year 2008/09, it said.

Business Bank: 27th Commercial Bank of Nepal

10, Sep 2009
The central bank of Nepal has approved license to operate 27th commercial bank of Nepal in the name of Business Bank. Earlier, the proposal to NRB to acquire the license was presented in the name of "Mero Bank" however the name amended to Business Bank.
The NRB meeting held on 7th September 2009 (22 bhadra 2066) approved the license to the bank, which has largest promoter shareholders in comparison to other banks of Nepal. The bank has 1228 promoters and these promoters invested from a million to 10 million Nepali rupees.
The bank will kick up with huge paid up capital of Rs. 2.33 billion and authorized capital of Rs. 4 billion, with its head office in kanthipath of Kathmandu. Total of Rs. 1.631 billion paid up capital has been invested by the promoter shareholders and the rest will be collected from public through issue of primary shares. The bank will commenced its operation within six months of duration.
Source: Jamb News Service

Global Bank’s Family Account

KATHMANDU: Global Bank Ltd has introduced Family Savings Plan (Pariwar Bachat Yojana) offering 10 per cent interest on fixed deposit. The plan is available in 19 branches of the bank for three months to promote a savings culture, it stated. The plan entitles free of cost Visa debit card, good-for-payment cheque and 30 per cent discount on locker, 50 per cent discount on travel cheque and education loan processing fee. — HNS

Everest Bank Ltd profits up 37 pc

REPUBLICA
KATHMANDU, Sept 10: Everest Bank Ltd (EBL) Thursday declared a net profit of Rs 638.7 million for 2008/09 fiscal year. This is an increase of 37 percent compared to the Rs 451.2 million it earned as net profit the preceding fiscal year. The bank also opened a branch and and an ATM counter in Thamel on Thursday.
A meeting of the bank´s board of directors held Thursday also decided to recommend distribution of bonus shares of 30 percent and dividend of 30 percent, EBL said in a statement issued Thursday.
Meanwhile, the bank´s operating profit went up to Rs 1.074 billion in the period up from Rs 818.2 million earned in 2007/08 fiscal year. The non-performing assets (NPA) dropped to 0.48 percent at the end of the period from 0.68 percent.
The bank also said it now has 35 branches, five revenue collection counters and 20 authorized representatives in VDCs through its Everest Ghar-Dailo Banking Sewa campaign plus 31 of its own ATM counters. "EBL debit card also has access to more than 350 ATMs in Nepal and more than 2,000 ATM locations in India," the bank said.

Gold crosses $1000 per ounce, but nepali market untouched.

Himalayan News Service
KATHMANDU: The international market witnessed a huge rise in the price of gold as it crossed $1000 per ounce in yesterday’s trading, but the domestic market did not observe any high.Traders opined that due to the lower exchange rate the price in the domestic market has not gone overboard — or hit a record — in comparison to the international price.“The exchange rate had affected the domestic bullion market last year but today the rate is at Rs 78 only,” said Nepal Gold and Silver Dealers’ Association (NEGOSIDA) president Tej Ratna Shakya adding that the exchange rate has helped the domestic market keep the gold price from rising.According to him, the exchange rate of dollar is Rs 78 today due to which there is not much hike in the gold price as was observed during the last record price on February 22 this year.That day, gold in the domestic market had touched a historic high of Rs 25,550 per 10 gram — Rs 29,800 per tola (11.66 gram) — due to weakening dollar. Then, the dollar exchange rate was Rs 82, though the international price of gold was only $992 per ounce.On July 16 last year, gold was traded at $1045 per ounce in the international market and in the domestic market the price of gold was only Rs 25,450 per tola as the exchange rate was Rs 62 per US dollar. According to the association, gold today was traded at Rs 25,380 per 10 gram — Rs 29,600 per tola — while silver was traded for Rs 422 per 10 gram.

Gold at $1000 per ounce
KATHMANDU: The gold price on September 8 broke the record ‘symbolic’ $1000.00 per ounce mark reaching $1004.50 on the 11 am London price fix and topping $1007 during the morning trading. Before early September, the highest 2009 price was on February 20 when gold fixed — in the afternoon — at $989 and it has been traded between $870 and $993. The rise translates to an annual increase of more than 21 per cent on the average price from last September that was $829.93 per ounce. The new high of $1000 per ounce record follows a sustained rise in price over the past seven years.

NEPSE > Today's Share Price As of 2009-09-10

S.No.

Traded Companies

No.of Transaction

Max. Price

Min. Price

Closing Price

Total Share

Amount

Previous Closing

Difference Rs.

1

Annapurna Bikash Bank Limited

22

422

395

401

2,355

962,640

423

-22

2

Bageshowori Dev.Bank

15

630

625

630

327

205,468

635

-5

3

Bishal Bazar Co. Ltd.

2

3,038

2,978

2,978

1,100

3,312,040

3,100

-122

4

Business Development Bank Ltd.

44

610

595

600

3,670

2,204,300

590

10

5

Biratlaxmi Bikash Bank Limited

6

611

598

598

66

39,908

623

-25

6

Bank of Asia Nepal Limited

61

510

492

505

9,860

4,885,420

513

-8

7

Bank of Kathmandu

77

1,529

1,472

1,483

9,644

14,317,702

1,530

-47

8

Clean Energy Development Bank Limited

39

745

715

725

2,140

1,562,270

735

-10

9

Chilime Hydro power Co.

5

1,081

1,040

1,040

1,710

1,786,550

1,060

-20

10

Citizens Bank International Limited

105

646

628

628

6,030

3,856,120

649

-21

11

DCBL Bank Ltd.

5

336

333

336

488

163,348

338

-2

12

Everest Bank Ltd

6

2,251

2,205

2,240

666

1,483,735

2,255

-15

13

Everest Finance Ltd,

11

373

350

355

1,710

617,690

380

-25

14

Everest Insurance Co. Ltd.

1

285

285

285

67

19,095

285

0

15

Fewa Finance Co. Ltd.

1

368

368

368

10

3,680

361

7

16

Global Bank Limited

43

490

465

481

2,190

1,038,920

490

-9

17

Goodwill Finance Co. Ltd.

2

653

641

653

150

96,750

650

3

18

Gorkha Finance Ltd.

9

318

312

318

350

109,600

306

12

19

Himalayan Bank Ltd.

3

1,571

1,550

1,550

100

156,020

1,570

-20

20

ICFC Bittya Sanstha Ltd.

1

426

426

426

500

213,000

434

-8

21

Infrastructure Development Bank Limited

11

445

427

443

820

360,080

440

3

22

Imperial Financial Inst. Ltd.

7

363

356

356

490

174,650

370

-14

23

International Leasing And Fin. Co.

11

506

495

500

6,871

3,432,941

510

-10

24

IME Financial Institution

1

1,010

1,010

1,010

100

101,000

1,000

10

25

Janaki Finance Ltd.

2

453

445

445

400

179,600

461

-16

26

Kaski Finance Limited

13

416

369

369

1,130

448,360

389

-20

27

Kumari Bank Ltd

10

630

617

617

1,023

636,496

630

-13

28

KIST Bank Limited

16

342

324

335

4,975

1,638,305

339

-4

29

Kuber Merchant Bittiya Sanstha Limited

31

696

683

696

350

242,560

695

1

30

Laxmi Bank Limited

21

915

828

915

988

851,572

920

-5

31

Lumbini Finance Ltd.

7

545

530

530

470

251,970

550

-20

32

Life Insurance Co. Nepal

4

700

700

700

60

42,000

690

10

33

Lumbini Bank Ltd.

18

300

286

286

4,343

1,267,553

300

-14

34

Machhachapuchhre Bank Ltd

11

355

340

343

1,690

583,638

360

-17

35

Malika Bikash Bank Limited

2

395

388

388

1,900

750,430

392

-4

36

Merchant Finance Company Limited

4

275

275

275

80

22,000

270

5

37

Nabil Bank Ltd.

33

2,720

2,650

2,701

2,109

5,641,825

2,680

21

38

Nepal Bangladesh Bank Ltd.

30

276

264

271

6,963

1,874,912

278

-7

39

Nepal Credit And Com. Bank

16

310

295

308

2,460

733,920

313

-5

40

National Hydro Power Co.

16

91

89

90

15,000

1,351,100

90

0

41

Nepal Investment Bank Ltd.

12

900

881

897

2,496

2,227,620

915

-18

42

Nepal Industrial And Co.Bank

16

850

830

846

2,633

2,203,705

850

-4

43

Neco Insurance Co.

8

127

127

127

6,732

854,964

129

-2

44

National LifeInsu. Co.Ltd.

4

572

539

539

330

178,530

583

-44

45

NMB Bank Ltd.

7

388

375

381

620

236,849

382

-1

46

Nepal Share Markets Ltd.

2

271

271

271

91

24,661

276

-5

47

Nepal Doorsanchar Company Limited

20

549

540

549

10,710

5,799,360

550

-1

48

Nirdhan Utthan Bank Ltd.

1

207

207

207

600

124,200

198

9

49

Peoples Finance Limited.

5

266

246

246

306

78,296

266

-20

50

Premier Insurance co. Ltd.

1

174

174

174

38

6,612

174

0

51

Prabhu Finance Company Limited

3

555

534

534

160

86,560

545

-11

52

Pashupati Development Bank Limited

102

453

442

452

2,590

1,163,490

442

10

53

Reliable Finance Limited

29

724

690

697

530

375,320

707

-10

54

Royal Mer. Bank. And Fin

3

505

490

490

259

127,315

515

-25

55

Sanima Vikash Bank Ltd.

5

572

559

559

1,630

913,450

581

-22

56

Nepal SBI Bank Limited

33

1,620

1,535

1,560

3,869

6,012,611

1,575

-15

57

Siddhartha Bank Limited

14

790

770

770

1,185

921,780

790

-20

58

Shikhar Bittiya Sanstha Limited

7

324

324

324

460

149,040

324

0

59

Standard Chartered Bank Ltd.

49

5,202

5,000

5,039

3,388

17,098,627

5,100

-61

60

Siddhartha Development Bank Limited

10

266

260

266

874

230,030

265

1

61

Shikhar Insurance Co. Ltd.

1

330

330

330

20

6,600

324

6

62

Siddhartha Insurance Limited

48

170

167

170

2,100

354,570

167

3

63

Standard Finance Ltd.

37

262

252

253

41,741

10,627,763

257

-4

64

Subhechha Bikas Bank Limited

9

708

694

700

190

133,080

695

5

65

Swabalamwan Bikash Bank

22

610

590

595

786

471,760

610

-15

66

Triveni Bikas Bank Limited

17

749

720

749

270

197,980

720

29

67

Uniliver Nepal Ltd.

1

4,346

4,346

4,346

10

43,460

4,261

85

68

World Merchant Bank Ltd

9

433

417

417

990

420,510

433

-16


Total Traded Amount Rs.:108,687,911
Total Traded Shares:180,963
Total Transactions:1,197