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.