Kamana Development to Issue IPO

In the occasion of its 3rd anniversary, Kamana Bikash Bank has decided to issue primary shares to the general public. The Chief Executive Officer of the bank, Mr. Umesh Kumar Acharya informed that the bank is floating new shares to the public of Rs. 70 million very soon so as to increase paid up capital to Rs. 200 million.

Operating from its head office in Pokhara the bank has planned to extend its branches in 10 more districts. Currently, the bank is providing services to general public as ABBS, ATM, evening counter, Loan against security and in addition to these SMS and E-banking are also going to be added to the product list, said Mr. Acharya.

According to the first quarter financial report of the bank (2066/67), it has Issued capital and paid up capital of Rs. 200 million and Rs. 130 million respectively, and have collected Rs. 660 million as deposits, Rs. 564.20 million provided as loan and has posted Rs. 3.80 million as net profit.

Source:
Jamb News Service