Second development bank launched

February 1, 2001
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Kathmandu, 1 February: Development Credit Bank Ltd, Nepal’s second development bank, started operations Thursday. The bank has an authorised capital of Rs 320 million and paid-up capital of Rs 160 million.

Promoters have a 51 percent stake in the bank while institutions and the general public will hold 19 and 30 percent equity shares respectively. Krishna Lal Maharjan is the chairman of the 11-member board of directors while Sudhir Khatri is president, Deepak Raj Sharma and Sashi Kiran Maskey executive vice-presidents.