Narayani National Finance profit at Rs 122 million

Narayani National Finance (NNF) that was created by merging Narayani Finance and National Finance last year, has posted Rs 122 million as operating profit for 2009-10. The merged company collected Rs 1.65 billion in deposits and floated loans worth Rs 1.165 million in the same period. It has been able to reduce its nonperforming loans to less than one per cent. The finance company has now 4 branches in Kathmandu and three in Chitwan and one in Sunsari, Biratnagar and Myanglung. The company has started any branch banking services and will soon start ATM service. The company has also issued rights shares to increase its capital base.
Source:
Tht