NIBL, EBL merger proposal on choppy sea

The proposed merger of Nepal Investment Bank Limited (NIBL) and Everest Bank Limited (EBL) is now on hold following discontent within the NIBL over the proposed plan. Some of the NIBL board members and senior staffers are uncomfortable over the merger plan and claim NIBL Chairman Prithivi Bahadur Pande did not inform them about the plan. The issue was debated in the NIBL's board meeting on Friday. Pande, however, has been maintaining that there had been just a preliminary understanding between the chairmen of two banks. "Now, the whole process is on hold for now," said a senior NIBL official.

The two sides had signed a preliminary memorandum of understanding (MoU) for further negotiations, according to the NIBL letter sent to Nepal Stock Exchange (NEPSE) on Sept 21. The NEPSE had sought details from the two banks following news reports about the proposed merger. The EBL had also responded with similar content in its letter sent to NEPSE on Sept. 17. Both banks have, however, maintained that the initial understanding was yet to be considered and approved by their respective board of directors.

The NEPSE had asked them banks about the status of the merger process to determine if the capital market should suspend the share trading of both. "We have to suspend shares trading of merging banks to prevent a sudden volatility in their share prices," said Shankar Man Singh, general manager of the NEPSE. He, however, said that the NEPSE allowed continuation of shares trading after it was known that board of directors of both banks were yet to endorse the initial agreement. Even the EBL staff were in dark about the proposed merger. EBL Assistant General Manager Hum Nath Gurung said that they came to know about the understanding later. "The rumour and controversy has affected the process," he added. Some board members of the NBIL maintain that the merger can be possible only if NIBL has a majority stake during the merger, amid reports that Pujab National Bank that has a stake in EBL had sought the majority stake.

The issue is likely to be hotly debated in the annual general meeting of EBL that is to be held on Thursday as well. If the process goes ahead, it would be the biggest ever merger in Nepal's banking history. Nepal Rastra Bank (NRB) also has a policy of encouraging mergers amid the growing number of banks and financial institutions so that it creates space for new entrants.

Source: 
ekantipur

Merger between Investment Bank & Everest Bank hotly debated

Before it has even materialised, the proposed merger between two leading commercial banks of Nepal seems to have hit the rough weather. A week after the news about the proposed merger between Nepal Investment Bank Limited (NIBL) and Everest Bank Limited (EBL) appeared in the local media, some board members at the NIBL has opposed the plan. A source close to the NIBL said that the merger issue was hotly debated in the NIBL Friday's board meeting. Prithivi Bahadur Pande, chairman of the NIBL, hinted that there were notes of dissent about the merger proposal at the board meeting. "It is natural to see opposition when we start to do a new thing," Pande told the Post. He didn't elaborate what the level of dissent was. .

For their part, some board members and the senior bank staff say they were kept in the dark by Chairman Pande about the proposed merger plan. "It would have been better had the board and senior management been informed about it," said a board member on condition of anonymity. Pande said that it was "an informal dialogue" between two chairmen and "nothing has been finalized yet." "It is not necessary to take approval for informal dialogue," said Pande, the NIBL chairman. "It is necessary to get the board's approval for the formal merger process." According to media reports, there was a meeting between the NIBL Chairman and B.K. Shrestha, chairman of the EBL, in New Delhi in the last week of August for the merger between the two banks. Pande admitted that there had been talks between him and Shrestha to "test waters." India's Punjab National Bank (PNB) that has a 20 percent stake in the EBL is said to be positive about the merger.

Pande termed the meeting between him and Shrestha in New Delhi as just a case of testing the waters. "Until there are formal talks, it should not be taken as a merger taking place between the two banks," said Pande. The NIBL board member say they are not against the merger per se. "Our concern is that the NIBL must have a majority stake in case of a merger," he said. "We can't allow the NIBL to merge with the EBL in a scenario where NIBL would lose its identity." While how much stake the NIBL and the EBL each will have after the merger has not been finalised, media reports say the PNB is keen to get majority stakes. Also, the PNB wants the majority management of the bank. And, this is the issue that has made the senior management of the NIBL jittery.

The senior staff at the NIBL is of the view that there should not be a change in the top management structure. "One major concern for them is that of job security," said the board member. The NIBL (earlier Nepal Indosuez Bank) was established in 1986 as a joint venture between Nepali and French partners. The French partner with 50 percent holding of the capital of NIBL was Credit Agricole Indosuez. But the French company, in 2002, sold its stake to a Nepali group of companies comprising bankers, professionals, industrialists and businessmen. Since then, Pande has been leading the NIBL and has, in the last eight years, made the NIBL as one of Nepal's leading banks. In the last fiscal year, its net profit was the highest amongst the private sector banks. As of now, its promoters have a 50 percent stake while Rastriya Banijya Bank and Rastriya Beema Sansthan, both government entities, each hold a 15 percent stake. The noise of the merger in fact began two years ago. The NIBL had then upgraded its banking software from Pumori to Finnacle which the EBL was already using.

Source:
ekantipur

Everest Branch to Reach Delhi

Everest Bank Limited has received an in-principal approval from the central bank of Nepal to open its first international branch in New Delhi. The expansion of branch was made possible according to NRB's provision on monetary policy to let banks to open international branches.

Earlier, the BOD of bank has recommended 30 per cent bonus shares and 30 per cent cash dividend subject to permission from Nepal Rastra Bank and AGM. 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
Source:
Jamb News Service

Market down over investors' worry

The Nepse index (-3.82%) witnessed yet another week of depression as IPOs lured investors toward the primary market. The increase in the inter-banking lending rate has also discouraged investors from borrowing. In addition, the Maoist party´s disclosure of its nation-wide protest plans further deflated investor confidence. Signs of stability, the market exhibited last week did not last with the announcements of bonus and cash dividend from some of the major companies. 

The Commercial Banking sub-index (-5.91%) descended as major banks like Everest Bank (-Rs 320) which is experiencing post-book closure price readjustment, NIC Bank (-Rs 101) which declared 15% bonus shares, Siddhartha Bank (-Rs 88) which declared 10% cash dividend, Siddhartha Development Bank (-Rs 5) which declared 5% cash dividend, all shed prices. Losses of API Finance (-Rs 55) which started trading last week, and the post-book closure readjustment in the share price of Nepal Express Finance (-Rs70) caused losses in the Finance sub-index (-1.63%) despite Merchant Finance (+Rs 103) and General Finance (+Rs 20) efforts to recoup the losses. Swawalamban Vikas Bank´s (+Rs 28) share prices appreciated but with losses in the majority of the development banks, the sector index (-1.55%) declined. Shikhar Insurance (-Rs 6) and Lumbini General Insurance (-Rs 8) posted declines to drag the Insurance sector down (-0.49%). The ´Others´ sub-index (-0.92%) plunged as Nepal Telecom (-Rs 10) shed value. The only sector to defy the market downtrend was the Hydropower sector sub-index (+0.98%) through the appreciation of Chilime Hydropower (+Rs 32).

Among other highlights, Bank of Kathmandu (-Rs 35) declared lucrative benefits of 40% bonus shares and 7.37% cash dividend. Kumari Bank (-Rs 59) and Kist Bank (-Rs 27) closed their books for 10% bonus shares, and 3.50% cash dividend respectively on October 30 which will impact the market next week. Shree Investment Finance also closed its book for 20% bonus shares and 5.26% cash dividend on October 23. Asian Life Insurance´s IPO offering was halted on 30 October because its offer price violates the Company Act. Civil Merchant Bittiya Sanstha (+Rs 6), United Insurance, Sagarmatha Merchant and Finance (-Rs 3) are selling 730 units, 25,575 units and 40,790 units respectively of their unsubscribed right shares. The market volume (Rs 276,356,647) has strengthened; however, the current downtrend is substantiated by signals from technical analysis tools.

 REPUBLICA 

Weak Sentiment Pulls Nepse Down

Stocks at home bourse were solidly lower with blue chips share soften on shabby investors confidence. The benchmark Nepse logged its seventh session straight drop on Thursday to close at 579.58, losing 5.46 points or 0.93 percent. Sell-off marked the investors' sentiment that led secondary market to settle worst for more than 28 months.

Scrip price of companies which has recently declared dividends, as Bank of Kathmandu (40% stock dividend), NIC Bank (15% stock dividend) experienced fall of Rs. 45 and Rs. 61 respectively. This tendency shows that, at temporary phase the market is not running on fundamentals or technical strength but with the investors' sentiment which is absolutely feeble.

Fresh share at market in form of right share and bonus shares has increased the supply side in one hand, on the next IPOs in the market has shifted the investment to risk free and high return rather than plain sailing secondary market. Likewise, political discrepancies along with protest declaration by opposition party U-CPNL (moist) has definitely created an additional leg down in the market.

Selling spree has dragged down the scrip prices of most of the financial stocks that smashed the financial stocks loaded Sensitive index to plunged 1.93 points or 1.31 percent to 145.13. Blue chip scrip at Nepse consists 14 commercial banks, 37 finance companies, 15 development bank, 10 insurance companies and one each from hydropower and manufacturing companies. Likewise, float Index an indicator of performance of ordinary shares in the market was down 0.80 points to 55.26.

Commercial bank shed hefty of 9.02 points or 1.60 percent to 554.61, development bank lost 1.12 points or 0.17 percent to 646.68 while finance slipped 2.80 points to 614.51. Likewise, hydro plummets 3.38 points; however insurance heaved up slightly 0.23 points along with 5.88 points rise in others sectors. Among commercial scrip, NIC Bank (Rs. 754, -7.48%) fronted with the heavy decline along with slump in key banks as Standard Chartered (Rs. 3583, -Rs. 16), Nabil Bank (Rs. 2700, -Rs. 70), Bank of Kathmandu (Rs. 1515, -Rs. 45), Everest Bank (Rs. 1700, -Rs. 89) and so on. Likewise, execution of trade after book closure of Nepal Share markets Limited's Promoter share (Rs. 194, -71.17%), Merchant Finance (Rs. 431, -9.31%) dragged down finance sub index.

Merely 60 companies registered their presence in the secondary market with 13 gainers and 41 losers. The A-D ratio was maintained at 0.32. All in all 152527 shares traded today via 869 transactions. Moreover, Rs. 75312033 turnover was realized along with Rs.407538.89 million market capitalizations. Yesterday, 54727 units' shares traded via 738 transactions amounting Rs. 30385763 turnover along with Rs.412370.06 million market capitalizations. Today's increase in turnover along with down stock index shows that investors stampede to sell shares is at utmost ceiling.

The top five standouts of the day are GFL(4.26%), SBBL( 2.8%), RIBSL( 2.51%), NABBC( 2%), TBBL(1.93%). Whereas, NSMPO(-71.17%), MFCL( -9.83%), BLDBL( -8.77%), NICB( -7.48%), NHPC( -5.95%). comprised of the top five losers.

NEPSE Index dropping

KATHMANDU: Nepse on Tuesday lost 4.89 points to close at 590.44 points. The single loser — Everest Bank — lost Rs 116 per unit share pulling the bank sub-group down by 8.03 points to 571.23 points. Nepse saw 93,511-unit shares getting traded on the third day this week. 

On the second day, Nepse dropped by 4.1 points to close at 595.33 points. All market propellers, commercial and development banks, finance companies, and hydropower companies, plunged, pulling Nepse down.

— HNS

Banking Blue Chips Demand on Spotlight

Nepal Stock Exchange slightly ticked to higher end on Wednesday, primarily led by banking scrip. The trading screen experienced pockets of green symbols for second day in a row after plunging down for previous five straight sessions. The modest scale of the day's surge suggested that investors are cautioned in demanding stocks from the market that has spent more time in reverse direction due to various weigh news. In a volatile session, the benchmark Nepse index settled at 599.50, yet below psychological level of 600, adding 0.70 points or 0.12 percent.
Declining stocks narrowly outpaced advancing ones with 26 gainers and 32 losers at three hours trade where volume came to lighter of Rs. 40159252 compared with Rs. 48828426 at the same time Monday. "Even though stock market endow with spurring gain after continuous tumble, it's not only complex but hoodwink to believe that market has got the opening start of the long rally on thinner trade like this" viewed market analyst.
Blue chips scrip from commercial banks as Standard Chartered (Rs. 3571, +Rs. 61), Nabil Bank (Rs. 2830, +Rs. 65), Bank of Kathmandu (Rs. 1605, +RS. 65), Everest Bank (Rs. 2206, +Rs. 6) along with other key banking stocks experienced higher share price to escort banking index to 584.29 putting on 4.54 points or 0.78 percent. Except BOK, named above banks has already declared dividends from the profit of fiscal year 2008/09. SCB declared 50% cash and 50% stock dividend, Nabil proposed 50% stock and 35% cash and EBL to give 30% stock and 30% cash dividend as a reward to shareholders from the profits.
Development bank index zoomed meager of 1.73 points or 0.27 percent to 653.51 on positive pricing of Pashupati Dev. Bank (Rs. 520, +5.05%), Sanima Dev. Bank (Rs. 570, +1.79%) along with others. However, hydro sector plummets hefty of 20.97 points or 2.51 percent to 813.59 triggered by downfall in price of Chilime Hydropower (Rs. 1023, -Rs. 57) and National Hydropower (Rs. 84, -Rs. 2). Finance declined 2 points to 626.43 along with 6.52 dropped down in insurance sector.
The puff up in demand of key commercial bank led domestic blue chip or sensitive index to close at 151.26 with surge of 0.71 points or 0.47 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 0.23 points to 57.40.
Total of 67 companies performed trade in secondary market for 68145 units via 852 transactions maintaining A-D ratio at 0.81. The market capitalization for the day stood at Rs.422563.1 millions up from previous session's Rs. 422068.29 millions.

Jamb Daily News Service

Nepse surge diminutive: yet feeble to boost stocks

Jamb Daily News Service
Nepal stock exchange ascends minuscule on Tuesday though volume was light after retreating for fifth session in a row. Investors stampede to demand for banking scrip escorted the sole secondary market to settle at positive note, yet underneath the psychological point 600. The benchmark index added 0.43 points or 0.07 percent to 598.80 at the closing bell after plunging to intra-day low of 597 and hitting high of 600.20.
"Even though the market surge after long downhill rally, the key stuff to boost the market is yet beyond the clouds. The rise occurred today was the natural phenomenon of stock market fluctuation but not through rational investor confidence".
Key banking scrip as Standard Chartered (Rs. 3150, +Rs. 9), Everest Bank (RS. 2200, +Rs. 30) along with basket of scrip rose to guide the commercial bank index to 579.75, adding 1.14 points or 0.20 percent. However, downswing in price of Nabil Bank (Rs. 2765, -Rs. 34), Bank of Kathmandu (Rs. 1540, -RS. 40) capped the banking gains. Likewise, hydro sector which consist of three companies heaved up 7.23 points or 0.87 percent on price augment of Butwal Power (Rs. 960, +RS. 8) and National hydropower (Rs. 86, +Rs. 1). However, development bank lost 2.55 points or (-0.39%) to 651.78 and finance slid 2.58 points to 628.41. The biggest losers from development bank was Business Development Bank (Rs. 265, -5.36%) and from finance sector Royal Mer. Banking and Fin topped the chart with 3.88 percent decline to Rs. 452. Insurance and others indexes remained unchanged compared to previous session.
The slight uptick in demand of key commercial bank led domestic blue chip or sensitive index to close at 150.55 adding 0.02 points or 0.01 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 0.03 points to 57.17.
Declining stocks narrowly outpaced advancing ones on the Nepal stock exchange where volume came to lighter of Rs. 48828426 compared with Rs. 172023758 at the same time Monday. Merely 63 companies registered their presence in the secondary market with 25 gainers and 26 losers. The A-D ratio was maintained at 0.96. All in all 78754 shares traded today via 821 transactions for Rs. 422068.29 million market capitalizations.
The top five standouts of the day are MFCL(6.79%), LUBL( 4.9%), LBL( 3.52%), KMBSL( 2.67%), MBL(1.89%). Whereas, NABILP(-26.73%),BDBL( -5.36%), RMBFI( -3.83%), PRFL( -3.7%), AEFL( -3.63%). comprised of the top five losers.

Nepse budge below benchmark 600

Kathmandu,11-Oct-09
Jamb Daily News Service The home equity market continued to stretch out in reverse direction on fragile investors' sentiments. The lackluster feat of Nepal Stock Exchange on recent days was kicked up with book closing date of Standard Chartered Bank Nepal. The downbeat momentum of stock market has waned the sentiments of investors due to bleak news on economical and growing political discrepancies amid the dividend declaration period by companies.
The benchmark index which lost 30.07 points on previous week plummets below the psychological level of 600 on Sunday's trade showing investors confidence are yet on dust level. Nepse closed at 599.33 points erasing 5.04 points or 0.83 percent, retreating to low for 27 months just points ahead of 7th July, 2007 of 598.52 points.
It is natural that, the trend of stock market swayed on positive and negative terrain; however our market has divulged string of unnatural move toward negative terrain from past few months. It's not because investors sentiment has haunted by bearish paws, it's because there are scarcity of strong good news that can escort up stock market. Better than expected earnings results of financial institutions along with dividend declaration by many, failed to provide the glimmer of hope to boost the market sentiments. However, the question is lingering in everyone's mind is, how and when will be market budge up to sun shine?
Most of the investors are selling at the same time driving the prices in downward spiral especially commercial bank scrip. Commercial banks which commands the titanic volume of trade at sole secondary market plummet 6.20 points or (-1.05%) to close at 582.76. Blue chip scrip asStandard Chartered (Rs. 3560, -Rs. 60), Everest Bank (Rs. 2250, -Rs. 20), Bank of Kathmandu (Rs. 1544, -Rs. 31) lost their scrip price along with basket of banking scrip. Likewise, finance shed 3.19 points to 630.95 triggered by downhill price of Patan finance (Rs. 279, -5.10%) andStandard finance (Rs. 275, -4.84%). Hydro sector lost 1.35 points; insurance slid diminutive of 0.13 points and others lost 7.04 points on weak performance of share of Nepal Telecom (Rs. 544, -Rs. 6). However, development bank rose 0.85 points or 0.13 percent to 654.50.
Sensitive index, 78 scrip domestic blue chip ended losing 0.91 points or (-0.60%) to 151.52 as most of the scrip price traded below previous close. Sensex consists, 14 commercial banks, 37 finance companies, 15 development bank, 10 insurance companies and one each from hydropower and manufacturing companies. Similarly, float Index an indicator of performance of ordinary shares in the market fell 0.43 points to 57.41.
Merely 67 companies registered their presence in the secondary market with 16 gainers and 39 losers. The A-D ratio was maintained at .41. All in all 67656 shares traded today via 620 transactions. Moreover, Rs. 46983265 turnover was realized along with Rs.420197.01 million market capitalizations.
The top five standouts of the day are AIC(3.23%), PFL( 2.98%), ACEDBL( 2.18%), PFCL( 1.94%), KFL(1.84%). Whereas, CZBIL(-6.18%), PFLBS(-5.1%), STFL( -4.84%), CMBF( -3.74%), BLDBL( -3.69%). comprised of the top five losers.

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

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.

Nabil, IMEFI book closure drags Nepse down

REPUBLICA
KATHMANDU, With the book closure a cutoff date for transferring shares for the benefit of cash dividend and bonus shares of Nabil Bank and IME Financial Institution (IMEFI), Nepal Stock Exchange (Nepse) index dipped by 27.42 points to close at 630.11 points on Tuesday.
The book closure of these two financial institutions further pulled down the benchmark index, already suffering due to rumor of possible arrival of promoters´ shares in the country´s sole secondary market.
“Investors rushed to sell off their shares of Nabil Bank and IMEFI, making investors shy away from buying those due to book closure from Tuesday,” Nanda Kishore Mundada, president of Nepal Stock Brokers´ Association, told myrepublica.com.
Nabil Bank has announced a cash dividend of Rs 35 per share cash and 50 percent bonus share, while the IMEFI has announced 20 percent bonus shares to its share holders.
With the announcement of book closure, the share price of Nabil Bank, a heavy weight in Banking group, saw its share price down by Rs 1,599 to close at Rs 2,652.
Banking group, which command significant influence in the secondary market, suffered a decline of a whopping 47.2 points to close at 626.31 points. The decline was contributed by the drop in share prices of major banks, including Nabil, Standard Chartered, Everest Bank and Bank of Kathmandu, during Tuesday´s trading.
Similarly, the sub-indices of Development Bank group and Hydropower group also lost 7.98 points and 0.68 points to close at 679.75 points and 862.91 respectively.
With the sharp fall in the share prices of major finance companies, including IMEFI, ICFC Bittiya Sanstha and Prudential Bittiya Sanstha, the sub-index of Finance Company group faced a decline of 6.79 points to close at 645.77 points. The Insurance group also saw its sub-index drop by 0.18 points to close at 628.84 points.
Total turnover at the end of Tuesday´s session reached Rs 6.89 million, with 121,578 units of shares and 62 scrips changing hands through 1,101 transactions. Total market capitalization stood at Rs 438.37 billion.

NEPSE up 5.77pts

Kantipur Report
KATHMANDU, Sept 3 - The Nepal Stock Exchange (NEPSE) Wednesday rose 5.77 points on the trading floor after dropping for four consecutive days. The sensitive index also witnessed an increase of 2.4 points.
The sub-indices on NEPSE showed a mixed reaction. The banking sector was the highest gainer as it increased by 11.88 points followed by the development bank sector and the finance sector which increased by 1.69 points and 2.9 points respectively. Similarly the insurance sector lost the most by shedding 3.51 points followed by the hydropower sector which lost 2.21 points.
The share market witnessed a total turnover of Rs. 86.31 million compared to Rs. 105.17 million on Tuesday with 128,732 shares being traded. Shares of 66 companies changed hands on NEPSE.
Among the 18 commercial banks listed on NEPSE, Everest Bank posted the biggest growth with its stock rising by 110 points. All the banks that were listed on NEPSE saw an increase and none of them went into loss.
Similarly, among the 14 development banks whose shares were traded on NEPSE on Wednesday, Pashupati Development Bank witnessed the highest increase of 30 points while Biratlaxmi Bikas Bank dropped 14 points.
Among the 19 finance companies on NEPSE, Shrijana Finance promoter share was the highest gainer with an increase of 100 points in its share price. Guheyshwori Mer. Bank. Fin. lost 66 points.
The top five winners on NEPSE were Pashupati Development Bank with a 6.67 percent rise in its stock price followed by Lumbini Bank, Everest Finance, Siddhartha Bank and Lumbini General Insurance.
Similarly, the top five losers on Wednesday were Guheyshwori Merchant Banking and Finance which fell 9.97 percent followed by Nepal Awas Bikas Beeta, Reliable Finance, Nabil Bank promoter share and Life Insurance Company.
Nabil Bank topped the chart in terms of turnover with Rs. 9.81 million.

Bank deposits surge 30pc despite slump

Kantipur Report
KATHMANDU, Sept 3 - Deposits in the country's commercial banks increased by an astounding Rs. 128.7 billion in the last fiscal year. Buoyed by a constant growth in remittances, total deposits in Nepal's 25 commercial banks reached Rs. 555.14 billion, a 30.18 percent increment from the previous year.
The fourth quarterly report of Nepal Rastra Bank (NRB) shows that, along with deposits, lending and net profits of commercial banks have also increased significantly. According to the central bank's report, banks in the country have maintained growth despite the global economic crisis.
The NRB report shows that lending and net profits have increased by 29.61 percent and 33.09 percent respectively. The commercial banks provided loans and advances amounting to Rs. 384.31 billion against Rs. 296.51 billion provided by the 25 banks in the last fiscal year.
According to the unedited financial figures of the central bank, Rastriya Banijya Bank (RBB) collected the highest amount of deposits of Rs. 68.09 billion. Nepal Investment Bank (NIB) was close behind with Rs. 46.69 billion. Its deposits surged by 35.52 percent in the last fiscal year. NIB leads private banks in terms of deposits.
NRB's report also shows that NIB is the largest lender among the commercial banks. In the last fiscal year, the bank provided loans and advances worth Rs. 36.82 billion.
The Agricultural Development Bank, Nepal (ADB/N), RBB and Nabil Bank issued loans amounting to Rs. 32.56 billion, Rs. 31.60 billion and Rs. 27.58 billion respectively. The commercial banks jointly earned a net profit of Rs. 14.14 billion during the period against Rs. 10.63 billion last year. Among the 26 banks, five commercial banks have recorded over Rs. 1 billion in net profits in the last fiscal year.
Nepal Bangladesh Bank declared the highest net profit amounting to Rs. 2.47 billion, followed by RBB and ADB/N which posted net profits of Rs. 2.03 billion and Rs. 1.23 billion respectively. The profits of these three banks improved significantly due to write back of their non-performing loans.
Nabil Bank is the leader among private banks in terms of net profit with Rs. 1.03 billion followed by Standard Chartered Bank.Top Ten in terms of lending
Banks
Nepal Investment Bank 36.82
ADB/N 32.56 Rastriya Banijya Bank 31.60
Nabil Bank 27.58 Himalayan Bank 25.51
Everest Bank 24.46 Nepal Bank 19.48
Nepal SBI Bank 15.13 Bank of Kathmandu 14.94
Kumari Bank 14.59

Top Ten in terms of deposits Banks
Rastriya Banijya Bank 68.09
Nepal Investment Bank 46.69
Nepal Bank 44.62
Nabil Bank 37.34
Standard Chartered Bank 35.87
ADB/N 35.15
Himalayan Bank 34.74
Everest Bank 33.32
Nepal SBI Bank 27.95
Bank of Kathmandu 18.08

NEPSE starts week on weak note

Kantipur Report
KATHMANDU, Aug 31 - The Nepal Stock Exchange (NEPSE) started the week on a weak note with the NEPSE index losing 10.39 points on Sunday. The index settled at 671.15 points when trading closed. The sensitive index also lost 3.24 points.
A double-digit decline of banking sub-index pushed NEPSE down on Sunday. Sunday's trading session saw the banking sub-index, a major component of the secondary market, declining by 16.09 points followed by development bank with a 8.53 point loss. Finance and insurance were the only two sub-indices that had marginal gains on NEPSE.
Total transactions on NEPSE reached Rs. 64.15 million with 100,516 units of shares being traded. Shares of 62 companies changed hands on Sunday.
Among the 22 commercial banks whose shares were traded on NEPSE on Sunday, Everest Bank's convertible preference posted the biggest growth with the stock rising 34 points while Nabil Bank lost the most on the trading floor by shedding 117 points.
Similarly, among the 13 development banks, Malika Bikas Bank and Gandaki Bikas Bank witnessed the highest increase of 5 points each while Ace Development Bank and Bageshwori Bikas Bank lost 15 points.
Among the 21 finance companies, IME Financial Institution was the highest gainer with an increase of 85 points in its share price. World Merchant Bank was the biggest loser shedding 52 points. The top five winners on NEPSE were IME Financial Institution with a 7.87 percent rise in its stock price followed by Lumbini General Insurance, Pokhara Finance, Everest Bank convertible preference and Reliable Finance.

NEPSE continues to slide

KATHMANDU, Aug 19 - The Nepal Stock Exchange (NEPSE) Tuesday fell by 0.66 point. All the sub-indices suffered a loss except for the development bank sector. The hydropower sector lost the most dropping 12.88 points followed by finance, banking and insurance.
The share market witnessed a total turnover of Rs. 91.39 million with 118,822 units of shares being traded. Shares of 67 companies changed hands on NEPSE.
Among the 22 commercial banks whose shares were traded on NEPSE on Tuesday, Everest Bank posted the biggest growth with its stock rising by 44 points while Standard Chartered Bank lost the most on the trading floor by shedding 73 points.
Similarly, among the 15 development banks, Swabhalambhan Bikas Bank witnessed the highest increase of 40 points.
Among the 25 finance companies, Kaski Finance was the highest loser shedding a whopping 570 points. The top five winners on NEPSE were Swabhalambhan Bikas Bank with a 6.06 percent rise in its stock price followed by World Merchant Bank, Machhapuchchhre Bank, Citizens Bank International and National Hydropower Company. - Kantipur Report