Banking & Insurance

31st January 2025, Kathmandu

Shikhar Insurance Company has announced a 10.52% dividend for its shareholders based on the net profit of the fiscal year 2080/81. The decision was made during the Board of Directors’ meeting held on 28 January.

Shikhar Insurance Bonus Share Dividend

The proposed dividend includes 10% bonus shares and a 0.52% cash dividend for tax purposes. This announcement reflects the company’s strong financial performance and commitment to shareholder returns.

Dividend Proposal and Approval Process

Before distribution, the dividend proposal requires approval from the Insurance Board of Nepal (Beema Pradhikaran). Additionally, it must be endorsed at the company’s Annual General Meeting (AGM). Once these approvals are secured, shareholders will receive their respective benefits.

The approval process is standard for listed insurance companies in Nepal. Regulatory bodies ensure compliance with financial policies before dividends are distributed. Shikhar Insurance remains confident that its proposal will be approved without complications.

Total Dividend Worth Rs. 27.94 Crore

The company has allocated Rs. 27.94 crore for dividend distribution. This amount will be used to issue bonus shares and disburse cash dividends to shareholders.

The company’s financial strength enables it to provide consistent returns to investors. Over the years, Shikhar Insurance has maintained a stable growth trajectory, positioning itself as a reliable player in Nepal’s insurance market.

Current Share Price and Market Position

As of now, Shikhar Insurance’s share price stands at Rs. 795 per unit. The stock has shown resilience despite market fluctuations. Investors consider the company a strong long-term investment option, given its steady financial performance and dividend history.

Market analysts view Shikhar Insurance as a key player in Nepal’s insurance sector. Its ability to generate profits and distribute dividends demonstrates effective business strategies and risk management.

Impact on Shareholders and Future Outlook

The announcement brings positive news for shareholders, who will benefit from increased holdings through bonus shares. The 0.52% cash dividend will also provide some liquidity, covering tax obligations.

Shikhar Insurance aims to enhance shareholder value through strategic growth and financial discipline. The company continues to expand its market presence, offering comprehensive insurance products and maintaining customer trust.

Looking ahead, industry experts expect Shikhar Insurance to maintain its growth momentum. The insurance sector in Nepal is evolving, and companies like Shikhar are well-positioned to adapt to changing market dynamics.

Final Steps for Dividend Distribution

The final dividend distribution will take place after obtaining the necessary approvals. Shareholders should stay updated on the AGM schedule and regulatory clearance.

Shikhar Insurance remains committed to delivering strong financial performance and rewarding its investors. The company’s ability to provide consistent dividends reinforces its market reputation and trust among shareholders.

For more: Shikhar Insurance Bonus Share Dividend

30th January 2025, Kathmandu

Nabil Bank’s Senior Deputy Chief Executive Officer (DCEO), Manoj Gyawali, spoke at the Nepal Startup and SME Conference, where he discussed the challenges startups face in securing bank investments.

Startup Funding Nepal Challenges

He explained that banks are reluctant to invest in startups, especially in their early stages, because of the high risks of failure.

Global Startup Failure Rates

Gyawali pointed out that globally, 90% to 95% of startups fail, making them unattractive for banks looking for secure investments. Banks, according to Gyawali, avoid taking risks on businesses that could collapse early on. He stressed that startups need to seek alternative funding options outside of traditional banking sources.

Government Resources and Venture Capital

Gyawali encouraged entrepreneurs to look for funding from government sources or venture capitalists rather than banks. He explained that startups should first rely on their savings to fund their ventures. If personal funds aren’t enough, borrowing from family and friends could be an option. In cases where that also falls short, venture capital can provide much-needed support. If all else fails, Gyawali suggested that government resources could help fund the business.

Growth and Bank Interest

Gyawali assured that once a startup grows and begins to show promise, banks will likely take notice and invest. He believes that with continued growth and perseverance, banks will eventually become interested in supporting startups financially.

Conference Focus on Economic Transformation

The Nepal Startup and SME Conference, organized by the Nepali Congress Department of Entrepreneurship and Small & Medium Business Development, serves as a platform for discussing the role of innovation and entrepreneurship in Nepal’s economic transformation. Gyawali’s remarks were part of a larger discussion on how startups and small businesses can drive economic change in Nepal.

Optimism for Future Growth

Despite the funding hurdles, Gyawali remains optimistic about Nepal’s startup ecosystem. He encouraged entrepreneurs to be resourceful and persistent in securing the funds they need to grow their businesses.

For more: Startup Funding Nepal Challenges

29th January 2025, Kathmandu

Nepal Securities Board (SEBON) has granted Everest Bank the approval to issue a debenture worth NPR 3 billion. The debenture, named “Everest Bank Debenture-2091,” aims to attract both public and individual investors.

Everest Bank Debenture Issue

Details of the Debenture Offering

Everest Bank plans to issue a total of 30 million debenture units, each with a face value of NPR 1,000. This will raise a total of NPR 3 billion. The bank will distribute 60% (18 million units) to individual investors and the remaining 40% (12 million units) to the public.

Attractive Interest Rate and Payment Terms

The debenture will offer an annual interest rate of 7.50%. Investors will receive interest payments every six months, providing a stable and predictable income stream. With a 10-year maturity period, this debenture presents a long-term investment opportunity.

Sales Process and Distribution

The debenture sale will involve two main components: 60% for individual investors and 40% for the general public. Of the total offering, 18 million units, worth NPR 1.8 billion, will be sold directly to individual investors. The remaining 12 million units, valued at NPR 1.2 billion, will be made available through public issuance. Laxmi Sunrise Capital will manage the sale process.

Benefits for Investors

With a 7.50% interest rate, the debenture provides an attractive return, especially given its long-term nature. The semi-annual interest payments make it an appealing option for investors seeking a reliable income. The 10-year term allows investors to secure their capital over a longer period, making it a solid addition to their portfolios.

Strengthening Financial Position

The funds raised through this debenture issuance will help Everest Bank strengthen its financial stability and support growth projects. This move is part of the bank’s broader strategy to diversify its funding sources and offer attractive investment options in the market.

The debenture’s approval and offering are expected to enhance Everest Bank’s position in Nepal’s competitive financial sector.

For more: Everest Bank Debenture Issue

29th January 2025, Kathmandu

Nepal Bank Limited, the first bank of Nepal, has launched a new housing loan product called “Saral Awas Karja” to make homeownership more attainable.

Nepal Bank Housing Loan Scheme

The loan features a competitive interest rate of 6.63%, offering support for individuals and families looking to purchase, build, or renovate their homes.

Key Loan Features

Loan Amount: Borrowers can access loans of up to NPR 20 million.

Loan Purpose: The loan can be used for buying homes, constructing new houses, or renovating existing properties.

Loan Coverage: The bank offers full coverage of the total project cost, reducing the financial burden on borrowers.

Repayment Period: The loan provides a long repayment period of up to 25 years, helping to keep monthly payments affordable.

Service Charge Discount: Borrowers will receive a 33.33% discount on service charges, further lowering the overall cost.

Helping Nepali Families Achieve Homeownership

“Saral Awas Karja” is designed to make homeownership more accessible for Nepali families. The loan offers an attractive 6.63% interest rate, allowing more people to take advantage of this opportunity. With a repayment period of up to 25 years, borrowers can manage their finances more easily while achieving their goal of owning a home.

Increased Financial Accessibility

This new loan product is an important step toward making homeownership more affordable for a larger segment of the population. With up to NPR 20 million in loan coverage, borrowers can tackle various housing projects, whether it’s purchasing a home or renovating one. The low interest rate and long repayment period make this loan a competitive option in the market.

Boosting the Housing Sector

By introducing “Saral Awas Karja,” Nepal Bank aims to meet the increasing demand for affordable housing in Nepal. This loan scheme could significantly impact the housing sector by enabling more families to own homes.

Nepal Bank’s new housing loan offers favorable terms that make homeownership more achievable for many Nepali citizens, supporting the dream of owning a home for a wider audience.

For more: Nepal Bank Housing Loan Scheme

29th January 2025, Kathmandu

IME Life Insurance has made history as the first insurance company to release its unaudited financial report for the second quarter (Shrawan-Poush) of the current fiscal year. The company’s financials show strong progress, highlighting its continued growth and stability in the industry.

IME Life Insurance Q2 Earnings

Profit Increases by 14%

IME Life earned a profit of NPR 26.78 crore in the second quarter, a 14.12% rise from last year’s NPR 23.47 crore. The growth is attributed to higher income and effective management of premiums.

Life Insurance Fund Grows Significantly

The company’s life insurance fund grew by 44.08%, reaching NPR 10.87 billion compared to NPR 7.54 billion in the same period last year. This significant growth reflects the company’s increasing market share and customer trust.

Premium Collection and Retained Earnings Rise

IME Life’s total premium collection for the second quarter reached NPR 2.44 billion, up 5.74% from the previous year’s NPR 2.10 billion. Additionally, its premium income increased by 17.22%, totaling NPR 2.33 billion compared to NPR 1.99 billion last year.

Improved Reserves

The company’s catastrophic reserve stood at NPR 21.75 crore by the second quarter, an increase from NPR 19.07 crore last year. Retained earnings also grew to NPR 138.25 crore, up from NPR 116.19 crore.

Earnings Per Share and Equity

IME Life’s earnings per share (EPS) saw a slight decline, decreasing to NPR 10.71 from NPR 11.74 in the previous year. While this drop in EPS is noted, the company’s net worth per share has reached NPR 152.23, indicating strong shareholder value and solid financial health.

Despite the minor decrease in EPS, the company’s robust net worth demonstrates its continued stability and growth in the market. Additionally, IME Life maintains a strong share capital base of NPR 5 billion, further reinforcing its position as a reliable and financially secure entity within the insurance sector.

Financial Growth Continues

IME Life’s total income rose from NPR 2.65 billion last year to NPR 3.14 billion this year. The company’s solid financial performance shows its resilience and growing dominance in the insurance sector.

IME Life remains committed to growth, transparency, and providing value to its policyholders, positioning itself as a leading insurance company in Nepal.

For more: IME Life Insurance Q2 Earnings

29th January 2025, Kathmandu

Global IME Laghubitta has reported a significant profit increase of 147.57% in the first quarter of the fiscal year. The company earned NPR 11.83 million, a notable rise compared to the same period last year.

Global IME Laghubitta Q1 Earnings

The profit boost came from reduced funding costs, as the interest rates on loans from commercial banks fell. This made funds more affordable and allowed for increased business growth.

Higher Interest Income and Loan Growth

The institution’s loan investments increased from NPR 8.5 billion to NPR 9.43 billion, leading to a rise in interest income. The income grew from NPR 28.64 million to NPR 35.7 million this year. The increase in interest earnings, combined with a growing loan portfolio, helped push profits higher.

Lower Provisions for Loan Losses

Provisions for loan losses dropped significantly. In the previous fiscal year, the provision stood at NPR 105.9 million. This year, it decreased to NPR 27.6 million. This reduction is due to better asset quality and fewer non-performing loans, contributing positively to the overall profit.

Increased Deposits and Borrowings

Global IME Laghubitta saw an increase in customer deposits, rising from NPR 3.07 billion to NPR 3.31 billion. Borrowings from commercial banks also grew from NPR 4.4 billion to NPR 4.93 billion, providing the company with more funds for business expansion.

Reduced Cost of Funds

The Laghubitta institution’s cost of funds decreased to 7.86% from 8.4% last year. This reduction in costs was a significant factor in boosting profitability.

Improved Financial Ratios

The company’s net worth per share is NPR 200.38, and its price-to-earnings (P/E) ratio stands at 30.73. The earnings per share (EPS) reached NPR 38.24, showing a substantial increase from last year’s NPR 15.46.

Positive Outlook for Growth

Global IME Laghubitta continues to show strong growth in both its loan portfolio and deposits. With a declining NPL ratio of 4.10%, the company’s future looks promising in the microfinance sector.

For more: Global IME Laghubitta Q1 Earnings

29th January 2025, Kathmandu

NECO Insurance Ltd. is hiring for a wide range of positions across Nepal. The company made an official announcement on Wednesday, inviting applications from qualified individuals for various roles.

NECO Insurance Hiring Nationwide

Open Positions Across the Country

NECO Insurance is looking for a Chief Operating Officer (COO) at its Kathmandu headquarters. It also seeks Branch Managers for offices in the Kathmandu Valley. Additionally, the company is recruiting for roles such as Jr. Officers, Officers, Sr. Officers, Supervisors, Assistants, Junior Assistants, and Trainee Assistants in all seven provinces.

Eligibility and Qualifications

Applicants for the COO position must hold a Master’s degree and have at least 10 years of experience in the insurance or banking sectors.

For the Branch Manager role, a Master’s or Bachelor’s degree along with at least 5 years of marketing experience is required. The company also seeks individuals with a 10+2 qualification or higher for Marketing Department roles, though candidates with relevant experience are preferred.

How to Apply

Interested candidates should submit their applications within one month of the advertisement. The application should include a recent passport-sized photo, CV, academic documents, and a cover letter specifying the position and province. Applications must be sent to vacancy@neco.com.np.

Age and Experience Requirements

For junior roles such as Assistants and Junior Assistants, the age limit is 30 years. These positions require at least a 10+2 qualification, with preference given to candidates who have prior experience in similar roles. For senior positions, more experience is required, particularly in marketing or related fields.

Shortlisting and Further Process

Only shortlisted candidates will be contacted for the next recruitment stages. NECO Insurance holds the discretion to accept or reject any applications without providing reasons.

About NECO Insurance

NECO Insurance aims to strengthen its operations by hiring skilled professionals. The company is focused on expanding its team to improve its services and continue its growth in Nepal’s insurance sector.

For more: NECO Insurance Hiring Nationwide

29th January 2025, Kathmandu

National AML Day 2025: A Call to Stay Vigilant Against Financial Crimes: Understanding the Importance of Anti-Money Laundering (AML)

In today’s fast-paced financial world, ensuring transparency and accountability is crucial in preventing illicit activities. National AML Day serves as a reminder of the collective responsibility to combat money laundering, protect the integrity of financial institutions, and foster a secure economic environment.

National AML Day 2025

This year, Laxmi Sunrise Bank reaffirms its commitment to raising awareness about financial crimes with the national slogan: (Transparency in Financial Activities, Commitment to Prevent Money Laundering)

Money Laundering Through the Lens of Squid Games

Popular culture often reflects real-world issues, and the widely acclaimed series Squid Games presents a thought-provoking perspective on financial desperation, exploitation, and hidden financial transactions. By drawing parallels, we can better understand the risks of money laundering and how to prevent it:

Exploitation of Vulnerable Individuals – Fraudsters target financially desperate individuals, luring them into illegal schemes.

Complex Fund Layering – Criminals use multiple financial layers to disguise the source of illicit funds.

Anonymous Transactions – Hidden beneficiaries and unverified identities facilitate illegal financial activities.

Lack of Verification – Inadequate oversight can allow fraudulent actors to exploit financial loopholes.

AML Awareness is Key – Understanding money laundering prevention and AML compliance is essential in fighting financial crime.

Laxmi Sunrise Bank’s Commitment to AML Compliance

At Laxmi Sunrise Bank, we prioritize financial literacy, regulatory compliance, and customer protection. Our AML initiatives focus on:

✔ Enhanced Due Diligence (EDD) – Strengthening KYC (Know Your Customer) policies to verify customer identities.

✔ Transaction Monitoring – Detecting suspicious transactions and preventing fraudulent activities.

✔ Financial Education & Awareness – Educating customers and stakeholders about financial crime prevention.

✔ Collaboration with Authorities – Working closely with regulatory bodies to combat money laundering and terrorist financing.

Join Us in the Fight Against Financial Crime

Every individual plays a role in preventing financial fraud. By staying informed, reporting suspicious activities, and adhering to financial regulations, we can create a transparent and secure financial ecosystem.

Learn. Be Aware. Be Responsible.

Explore more insights on financial security by staying connected with Laxmi Sunrise Bank. Together, we can build a stronger defense against financial crimes.

For more: National AML Day 2025

28th January 2025, Kathmandu

Nepal Rastra Bank (NRB) has started pulling NPR 30 billion in liquidity from the banking system. This decision comes after an increase in liquidity within the financial sector. The move aims to regulate the money supply and stabilize the economy.

NRB Withdraws NPR 30 Billion

Bidding Process to Collect Liquidity

NRB will use the “Bolkabol” bidding process to withdraw the NPR 30 billion. The process will last for 21 days. The central bank will collect the funds through this deposit collection tool to absorb excess liquidity from the market. The interest rate will be determined by the bidding process.

Repayment Schedule

The principal and interest for the liquidity withdrawn will be paid back on Falgun 6, 2025 (February 18, 2025). The amount of interest will be finalized based on the bids submitted by the participating banks.

Eligible Participants

Only commercial banks and financial institutions in categories ‘A’, ‘B’, and ‘C’ can participate in the bidding. These banks must bid with a minimum of NPR 10 crore (100 million) and a maximum of NPR 50 crore (500 million) to secure a portion of the total amount being withdrawn.

Usage of Withdrawn Liquidity

The withdrawn liquidity can be used as collateral by participating institutions. NRB aims to control inflation and regulate credit expansion by managing the overall liquidity in the banking system. The move will also help in stabilizing the financial markets in Nepal.

Goal of the Liquidity Withdrawal

NRB’s action is designed to ensure a balance between maintaining adequate liquidity for lending and controlling excess money supply that could lead to inflation. By tightening liquidity, NRB seeks to stabilize the economy and strengthen the financial system.

This decision is a key component of NRB’s ongoing strategy to maintain financial stability within the banking system, aiming to manage liquidity levels effectively and prevent potential economic imbalances. By taking such measures, the central bank seeks to balance the money supply and avoid inflationary pressures that could arise from excessive liquidity.

For more: NRB Withdraws NPR 30 Billion

28th January 2025, Kathmandu

NMB Bank Limited has extended its network by inaugurating its 202^nd branch in Aathbiskot, Rukum, on January 27, 2025.

NMB Bank 202nd Branch

The inauguration ceremony was jointly conducted by the Mayor of Aathbiskot Municipality, Ravi KC and the Deputy General Manager of NMB Bank, Pramod Dahal.

The new branch aims to provide easy and accessible banking services to the local community. According to the bank, the branch will benefit individuals, businesses, and organizations in the area by offering quality services. It is also expected to support the overall economic development of the region.

With this new addition, NMB Bank is currently providing its services through 202 branches, 186 ATMs, and 10 extension counters across the country.

About NMB Bank

28th January 2025, Kathmandu

Samata Gharelu Laghubitta Bittiya Sanstha Limited has announced that its 11th Annual General Meeting (AGM) will be held on February 23, 2025, at Mirabel Resort & Hotel, Dhulikhel, Kavrepalanchok, commencing at 11:30 AM.

Samata Gharelu 11th AGM

Key Agenda Items:

Dividend Proposal: The AGM will consider a proposal for a 5% bonus share based on the current paid-up capital. Additionally, a cash dividend of 0.26315790%, inclusive of taxes, is proposed to be distributed among shareholders.
Merger and Organizational Changes:

The Board of Directors will present a proposal for a potential merger with other suitable microfinance institutions. The meeting will also discuss amendments to the company’s Articles of Association and Bylaws to enhance operational efficiency and governance.

Financial Approvals: The AGM will review and approve the financial statements of the past fiscal year. The appointment of an external auditor for the current year and the determination of their remuneration will also be addressed.

Annual Plans and Budget: The company’s annual programs, budget, and operational plans will be presented and discussed for approval.

Share Structure Revisions: A proposal to revise the company’s shareholding structure to align with future growth plans will be presented.

Director Elections: The election of four founding directors and two public directors, with at least one woman director, will take place.

Book Closure:

The company’s books will be closed on February 6, 2025. Shareholders listed on the company’s records as of February 5, 2025, will be eligible to attend the AGM and receive dividends.

The AGM will focus on key strategic decisions that are vital for driving the company’s long-term growth and ensuring its financial stability. These decisions will lay the foundation for the company’s future expansion and enhance its operational efficiency.

By reviewing and approving significant proposals, such as mergers, financial approvals, and structural revisions, the AGM will help the company navigate the challenges ahead and position it for continued success in the industry.

For more: Samata Gharelu 11th AGM

27th January 2025, Kathmandu

Nepal Investment Mega Bank Limited has announced the sale of 113,238 promoter shares, providing an opportunity for existing promoter shareholders to increase their stake in the bank. The offer is exclusively available to current promoters during the initial phase, with a set application period.

Promoter Share Sale NIMB

Application Details for Promoters

Promoter shareholders interested in purchasing these shares are required to apply to the bank’s Share Department in Lainchaur, Kathmandu. The application period commenced on Magh 14, 2081 (January 27, 2025) and will remain open for 35 days. Applicants must specify the number of shares they wish to purchase and state the price they are willing to pay.

Public Opportunity if Shares Remain Unsold

If existing promoters do not claim the offered shares within the given timeframe, the bank will make the shares available for sale to the general public or other institutions. This two-phase approach ensures that no shares remain unsold and expands the opportunity for new investors to participate.

Strengthening Ownership and Investment Potential

The bank aims to provide its promoters the first opportunity to enhance their ownership. This initiative also aligns with the bank’s broader goal of ensuring effective share distribution. Existing promoters have a chance to strengthen their position, while potential public investors could benefit if the shares remain unclaimed.

This sale represents a strategic move by Nepal Investment Mega Bank to streamline its shareholding structure while offering promoters and possibly new investors a chance to invest in the bank. Interested promoters are encouraged to act within the given deadline to avoid missing this opportunity.

The bank has assured transparency throughout the process and will update stakeholders regarding the outcome of the share sale.

For more: Promoter Share Sale NIMB

27th January 2025, Kathmandu

NRN Infrastructure and Development Limited is launching a rights issue and has appointed Nepal SBI Merchant Banking Limited as the issue and sales manager. This step supports the company’s goal of market expansion and growth.

NRN Infrastructure Share Rights Issue

SBI Merchant Banking to Manage Rights Issue

NRN Infrastructure and Nepal SBI Merchant Banking formalized their partnership for the rights issue. The agreement was signed by Leknath Pokhrel, CEO of Nepal SBI Merchant Banking, and Hemant Basyal, CEO of NRN Infrastructure. Nepal SBI Merchant Banking will oversee the entire process.

Details of the Rights Issue and Share Allocation

NRN Infrastructure will issue 12,843,724 ordinary shares in a 1:1 ratio to current shareholders. This follows approval from the 2023/24 Annual General Meeting. The goal is to raise funds for future development.

Strong Investment Portfolio

Since its registration in 2012, NRN Infrastructure has diversified investments across hydropower, tourism, hotels, insurance, and telecommunications. Its shareholders include influential figures from various industries in Nepal, enhancing the company’s credibility.

SBI Merchant Banking’s Role

As a subsidiary of Nepal SBI Bank, Nepal SBI Merchant Banking is a trusted player in Nepal’s financial market. The company has expertise in handling rights issues, public offerings, and related services.

Supporting Expansion and Future Growth

The rights issue aims to raise funds for NRN Infrastructure’s expansion in key sectors. By issuing shares, the company plans to increase its financial strength and continue infrastructure development across Nepal.

Impact on NRN’s Future

The rights issue is a major opportunity for NRN Infrastructure and its shareholders. With the support of Nepal SBI Merchant Banking, the company is well-positioned to raise capital and continue expanding in hydropower, tourism, and other sectors.

This rights issue will help NRN Infrastructure meet its goals and strengthen its market position. The funds raised will fuel further investments and support Nepal’s infrastructure growth.

For more: NRN Infrastructure Share Rights Issue

26th January 2025, Kathmandu

In a recent meeting of the Financial Sector Coordination Committee, Deputy Prime Minister and Finance Minister Bishnu Prasad Poudel directed attention to the need for institutional strengthening within the financial sector.

Nepal Financial Sector Reform

He urged the prioritization of existing challenges and suggested addressing these issues systematically to enhance the sector’s efficiency and performance.

Focus on Targeted Solutions for Effective Reform

Minister Poudel acknowledged that although the economy is showing signs of improvement, greater efforts are needed to amplify the impact of these reforms. He stressed that the programs of regulatory bodies must be prioritized, and their problems need to be solved one by one. According to him, clear prioritization of tasks would streamline the work process and yield better results.

Collaboration Among Key Stakeholders to Foster Progress

The meeting included representatives from important financial institutions, such as the National Planning Commission, Nepal Rastra Bank, the Department of Cooperatives, the Nepal Insurance Authority, the Nepal Securities Board, the Nepal Bankers Association, and the Office of the Company Registrar. Paudel emphasized that stronger coordination between these organizations is vital to the long-term growth of Nepal’s financial sector.

In-depth discussions on Economic and Financial Matters

A broad array of topics, including banking, liquidity, insurance, lending, cooperatives, and capital markets, was discussed during the meeting. Minister Poudel also noted that challenges in one area of the economy can often lead to consequences in others, underscoring the importance of increasing collaboration across various sectors to tackle the country’s financial issues.

Commitment to Ongoing Dialogue and Coordination

The Finance Minister assured participants that discussions on these issues would continue. He emphasized that enhanced coordination among different financial sectors will be crucial for addressing future challenges. Paudel concluded by highlighting that improved cooperation and communication are necessary to further develop Nepal’s financial system.

This meeting represents a crucial step in addressing the challenges facing Nepal’s financial sector, with a focus on creating a more stable and effective financial environment for future economic growth. The government remains committed to making the sector more resilient and prosperous.

For more: Nepal Financial Sector Reform

16th January 2025, Kathmandu

eSewa, Nepal’s leading digital wallet, has entered its 16th year, continuing its commitment to a cashless economy. Starting in 2010 with a beta release, it has transformed from a mobile top-up service to a comprehensive platform offering over 2,000 services, including utility payments, flight bookings, school fees, insurance, and more.

eSewa Celebrates 16th Anniversary

Financial Inclusion Focused

New Features to Enhance User Experience

On its anniversary, eSewa launched innovative features to streamline financial management for its users. The Finance 360 feature allows customers to track spending across different categories and set monthly budgets. This feature aims to help users manage their expenses effectively, contributing to better financial health.

Convenient Calendar Feature

The company introduced the eSewa Calendar to simplify financial task management. Users can now schedule and track their payments, including bills and bookings. With this tool, eSewa customers can ensure they never miss a payment or event. Users can also record personal events like birthdays and anniversaries in the calendar for added convenience.

Expanding Partnerships and Services

eSewa has partnerships with 49 banks and financial institutions and boasts over 268,000 agents and 450,000 merchants. The company remains focused on expanding its service offerings while enhancing user experience and developing new features to meet the evolving needs of its vast user base.

Promising Future for Digital Finance

As eSewa celebrates its 16th year, the company is optimistic about its role in driving financial inclusion and fostering economic growth in Nepal. Its mission is to provide accessible and convenient financial services, helping Nepal’s transition towards a fully cashless society.

For more: eSewa Celebrates 16th Anniversary

26th January 2025, Kathmandu

Nepal’s leading digital wallet, Khalti, celebrates its 8th anniversary on January 26, 2025, with the theme ‘Khali @ 8: Celebrating Gr8 Years’, reflecting on its journey of innovation and growth.

Khalti Celebrates 8th Anniversary

Launched in 2017, Khalti has come a long way in its digital transformation journey. Starting with mobile top-ups and simple bill payments, it has grown into an innovative platform, becoming a go-to brand for event ticketing, voting & movie bookings and establishing itself among the youth for concerts, sports & reality shows.

Over the years, Khalti has broadened its reach, expanding from digital payments for government services to exclusive dine-out and recreational deals via ‘Places by Khalti,’ gadget shopping via ‘Khalti Mall’ and financial solutions like insurance and investments.

On its 8th anniversary, Khalti extends its gratitude to users, partners, regulatory bodies, agents, merchants & its team for contributing to its mission of financial inclusion and creating a better digital ecosystem in Nepal.

Continuing its streak from last year, Khalti has once again been honored by NCHL as the Payment Service Provider processing the highest number of digital transactions in Nepal.

With numerous awards & honors such as the NAS IT Award and the achievement of 5 million downloads on the Google Play Store, Khalti’s 8th year has been packed with milestones.

Key highlights include being the ticketing partner of Nepal Premier League, launching Bike Suraksha and Car Suraksha, the success of the third edition of The Biggest Payment Jatra, establishment of ‘Places by Khalti’ for exclusive dine-out and recreational deals & introduction of ‘Khalti Mall’ for gadget shopping.

Gr8 Offer @ Rs. 8: Khalti offers its users special anniversary deals across various service categories

Koffee @ Rs. 8 for the first 88,888 users

Health Package named ‘Suraksha Mini’@ Rs. 8 for the first 8,888 users

Topup up to Rs. 500 @ Rs. 8 for lucky 888 users

Movie Ticket @ Rs. 8 for lucky 88 users

Flight Ticket @ Rs. 8 for lucky 8 users

To grab Koffee @ Rs. 8, users can go to the Khalti Homepage > Entertainment > Places  & then, order coffee at their preferred location @ Rs. 8. This offer will be valid from January 26 to 28. Khalti has set different timeframes and arrangements for the other offers. Additionally, Khalti has partnered with various merchants to offer deals and prizes.

Mr. Binay Khadka, CEO of Khalti, says:

“From Day 1, Khalti has focused on ensuring financial inclusion for every Nepali. Looking back over these 8 Gr8 years, Khalti has undeniably become a key contributor to Nepal’s Digital Transformation.

With our user-friendly payment services and continuous innovation, we’ve successfully positioned ourselves as a trusted brand in every Nepalese household.

We’ve expanded to offer a variety of digital payment services, from government to private sector payments, from events like concerts to sports. As we accelerate our efforts to establish Khalti as a financial lifestyle brand, we remain committed to providing our users with an exceptional experience by introducing even more innovative services.”

For more: Khalti Celebrates 8th Anniversary

25th January 2025, Kathmandu

NLG Insurance Company Limited successfully conducted an awareness and claim settlement program focusing on agricultural and livestock insurance.

NLG Salyan Insurance Claims

The event took place at Bagchaur Municipality-1, Thinbang, on Thursday, attracting enthusiastic participation from local farmers.

Focus on Farmer Outreach

The program was part of NLG Insurance’s initiative to directly engage with farmers. By raising awareness about the significance of agricultural and livestock insurance, the company aims to mitigate risks faced by farmers in rural areas.

Coordination and Past Impact

Mr. Anurag Bohara, Chief of the Salyan Branch Office, coordinated the program. He shared that a similar program was conducted in the same ward a year ago, which successfully brought many farmers under insurance coverage. During this event, 20 farmers received cheques for their insurance claims.

Support from Local Leaders

Ward Chairperson, Mr. Gangaram Basnet, attended the program as the chief guest. He commended the effort to involve more farmers in insurance schemes and highlighted the importance of understanding its benefits.

Mr. Tek Bahadur Basnet, Chief of the Animal Husbandry Division at Bagchaur Municipality, urged farmers to take advantage of the 80% subsidy provided by the government for agricultural insurance.

Farmers Benefit from Risk Management

Speaking at the event, Mr. Krishna Bahadur Basnet, Proprietor of Salyani Multipurpose Agro Farm, emphasized the role of insurance in reducing risks for farmers. He encouraged wider adoption to ensure long-term sustainability in agriculture.

Community Involvement

The program saw active participation from local groups, including the Bayaldanda Women’s Group, represented by Chairperson Ms. Pratima BK, and the Laligurans Forest Users’ Group, led by Chairperson Mr. Suresh BK. Their presence underscored the importance of community collaboration in promoting insurance awareness.

Program Highlights

Claims Settlement: Cheques were distributed to 20 insured farmers.

Participation: A total of 74 individuals from Ward No. 1 attended.

Awareness Session: Farmers learned about the benefits and provisions of agricultural and livestock insurance.

Future Plans and Gratitude

Branch Chief Mr. Bohara expressed gratitude to all contributors for making the program successful. He assured participants that NLG Insurance will continue its efforts to include more farmers under insurance schemes, ensuring widespread benefits.

This program reflects NLG Insurance’s commitment to empowering farmers and strengthening the agricultural sector through innovative risk management solutions.

For more: NLG Salyan Insurance Claims

24th January 2205, Kathmandu

The Nepal Stock Exchange (NEPSE) is reviewing whether to establish a separate SME platform or simply add a new subgroup within its existing index.

SEBON Approves SME Trading Rules

This comes after the Securities Board of Nepal (SEBON) approved new regulations for the issuance and trading of securities for small and medium-sized enterprises (SMEs). The regulations, which came into effect on 16 January 2081, aim to enhance SME participation in the stock market.

New Regulations Spark Discussions

SEBON’s recent approval of the “Issuance and Trading of Securities of Small and Medium Organized Enterprises Rules, 2081” has led to discussions within NEPSE about how to implement the new rules.

According to these regulations, NEPSE and the Central Depository System and Clearing (CDSC) are responsible for executing the guidelines. While SEBON’s instructions suggest the need for a distinct SME platform, NEPSE officials are considering adding an SME subgroup to their existing index instead.

NEPSE’s Proposal: Adding an SME Subgroup

Some officials within NEPSE believe that creating a separate platform for SMEs may not be necessary. Instead, they propose adding an SME subgroup to the current NEPSE index.

This solution would be less complicated and save time, as the subgroup could accommodate SMEs without the need for a completely new system. “It would be more efficient to add a new subgroup to the existing index,” stated one NEPSE official. “This approach would avoid unnecessary delays and complexities.”

Consultations Ongoing at NEPSE

Discussions are still underway about the best course of action. While some argue for a new subgroup, others are exploring the possibility of a separate platform.

NEPSE officials believe that adding an SME subgroup would be a more practical solution, allowing for faster implementation. “We aim to finalize the decision soon and present it to the NEPSE board for approval,” the official added.

SEBON’s Perspective on Implementation

Despite NEPSE’s internal discussions, SEBON has acknowledged that the full implementation of the regulations may take some time.

According to SEBON spokesperson Niranjay Ghimire, while the regulations have come into effect, NEPSE must develop guidelines and infrastructure before small and medium-sized enterprises can begin trading their securities. “The process will take time,” Ghimire said. “NEPSE needs to create the necessary systems to support SME trading.”

Further Technical Study Needed

Ghimire also mentioned that adding an SME subgroup or platform requires a deeper technical analysis. As the market operator, NEPSE is responsible for designing an appropriate system. “Further discussions will take place to ensure the proper implementation of the SME trading system,” Ghimire added. “It’s essential not to rush the process, as more decisions will need to be made in the coming months.”

Next Steps for NEPSE and SEBON

As NEPSE and SEBON continue their deliberations, they are focused on ensuring that the SME trading system operates smoothly. The ultimate goal is to integrate small and medium-sized enterprises into the stock market efficiently, providing them with more opportunities for growth and funding.

For more: SEBON Approves SME Trading Rules

24th January 2025, Kathmandu

First Microfinance Laghu Bitta Bittiya Sanstha has released its financial results for the second quarter of the current fiscal year. The company reported a 38.41% decline in net profit compared to the same period last year.

First Microfinance Q2 Results

The company earned NPR 52.3 million in net profit this year, a significant decrease from the NPR 84.9 million profit recorded in the previous year.

Causes Behind the Profit Decline

The primary reasons for the drop in profit include a reduction in interest income and operating profit. In the previous fiscal year, the company earned NPR 153.8 million in interest income. However, this year, it fell to NPR 111.4 million. Additionally, the operating profit dropped from NPR 130 million to NPR 70 million during the same period.

Key Financial Indicators

Earnings Per Share (EPS): The company’s EPS decreased by NPR 4.87, dropping to NPR 7.78 from last year’s NPR 12.65.

Net Worth Per Share: The net worth per share currently stands at NPR 125.33.

Non-Performing Loans (NPL): The company’s NPL ratio rose to 4.44% from 2.87% last year.

Reserve Fund: The company holds a reserve fund of NPR 30 million.

Capital and Loan Disbursement

The company’s paid-up capital is NPR 1.34 billion, and it has set aside NPR 34 million in reserves. As of the second quarter, it has disbursed loans totaling NPR 6.06 billion, an increase from NPR 5.51 billion in the previous year. The company’s distributable profit for the period stands at NPR 3.91 million, with earnings per share of NPR 5.83.

Challenges Ahead

Although First Microfinance has managed to maintain a solid capital reserve, it is facing significant challenges due to the increased non-performing loans and reduced interest income. These factors have put pressure on the company’s overall profitability. To stabilize its financial position, the company will need to address these challenges in the upcoming months.

The drop in profits emphasizes the ongoing difficulties faced by financial institutions in the current economic landscape. First Microfinance will need to adapt and implement effective strategies to ensure future growth and stability.

For more: First Microfinance Q2 Results

24th January 2025, Kathmandu

Best Finance Company Limited has placed 535,927 founder shares up for sale. These shares are owned by six of its founding shareholders.

Best Finance Founder Shares Sale

In line with the company’s policy, the shares are being offered exclusively to its current shareholders in the initial phase. This move is part of Best Finance’s strategy to manage its shareholder base and enhance its capital structure.

Sale Exclusively for Current Shareholders

The company has established a 35-day window for its existing shareholders to express interest in purchasing the available shares. Shareholders can submit their purchase applications at the company’s central office in Kamaladi, Kathmandu. This exclusive sale aims to prioritize the company’s current investors, allowing them to increase their stake in the company.

Best Finance emphasized that only existing shareholders are eligible to purchase these shares during this period. The primary objective is to offer the opportunity to those who are already part of the company’s ownership structure. Interested shareholders must complete their applications within the specified period to be considered for the purchase.

Public Sale If Applications Are Not Received in Time

If, by the end of the 35 days, Best Finance does not receive sufficient applications from current shareholders, the company will open the sale to the general public. This ensures that the shares will still be sold and that the company can achieve its desired outcomes, whether through its existing shareholders or new investors.

Key Details of the Sale

Shares Available: 535,927 founder shares

Eligibility: Only current shareholders during the first 35-day window

Application Deadline: 35 days from the announcement

Location for Application: Best Finance’s head office in Kamaladi, Kathmandu

The company’s initiative provides a valuable opportunity for existing shareholders to enhance their stakes, and if necessary, allows the public to participate, ensuring that the shares are fully allocated.

For more: Best Finance Founder Shares Sale

24th January 2025, Kathmandu

NLG Insurance has appointed Noor Prakash Pradhan as its Independent Director. The board made this decision during a meeting held on Thursday afternoon. Pradhan’s appointment takes effect immediately, and he will serve for the next four years.

NLG Insurance Appoints Noor Prakash

Experienced Leader Joins NLG Insurance

Pradhan, who resides in Sanepa-2, Lalitpur, brings extensive experience to the company. His background in various sectors will contribute to NLG Insurance’s strategic direction and corporate governance. Manoj Shrestha, the company secretary, confirmed the appointment, noting the board’s confidence in Pradhan’s expertise.

Strengthening Governance and Strategic Growth

The appointment comes as part of NLG Insurance’s commitment to strengthening its leadership and governance. The company is focused on ensuring high standards in decision-making and service delivery. With Pradhan joining the board, NLG Insurance aims to maintain its commitment to corporate transparency and customer satisfaction.

NLG Insurance Focuses on Long-Term Growth

In addition to ensuring strong governance, the company is looking to improve its market position within the competitive insurance industry. The appointment of Pradhan underscores the company’s ambition to bring in skilled professionals who can support its growth ambitions and strategic goals.

A Key Milestone for NLG Insurance

This leadership change reflects NLG Insurance’s dedication to aligning its management structure with industry best practices. The company is confident that Pradhan’s leadership will help drive its vision forward and strengthen its position in the market. The four-year term will allow Pradhan to play an essential role in the company’s future endeavors.

This strategic move is expected to significantly strengthen NLG Insurance’s efforts to solidify its position as a reliable, innovative, and forward-thinking player in the industry.

With the appointment of Noor Prakash Pradhan as an independent director, the company aims to further enhance its corporate governance practices while driving sustainable growth and maintaining its commitment to delivering exceptional service to its customers.

For more: NLG Insurance Appoints Noor Prakash

24th January 2025, Kathmandu

Devendra Raman Khanal, CEO of Rastriya Banijya Bank, spoke at the bank’s 60th Annual General Meeting on Thursday, highlighting recent signs of economic recovery in Nepal. Khanal acknowledged that while the banking sector faces challenges, such as rising non-performing loans (NPLs), there are positive developments in the broader economy.

Nepal Economic Recovery RBB CEO

Boost from Remittances and Liquidity

One of the key factors contributing to the economic improvement is the increase in remittances, which has enhanced liquidity in the banking sector. This boost in liquidity has led to lower interest rates, providing relief to businesses across Nepal. Khanal noted that the improvement in revenue collection and the efficient use of public resources were also supporting economic recovery.

Inflation Control and Policy Effectiveness

Khanal pointed out that the government’s effective use of fiscal and monetary tools has helped control inflation, creating a favorable environment for economic growth. He emphasized that these measures have played a crucial role in stabilizing the economy and supporting the ongoing recovery.

Challenges with Non-Performing Loans

Despite the positive trends, Khanal expressed concern about the increasing number of non-performing loans in the banking sector. He noted that this issue has caused significant strain on financial institutions, although the overall economic situation in Nepal remains more stable than the global economic outlook.

Government Reforms Fuel Optimism

Khanal credited the government’s recent policy reforms for fostering optimism about the future. These efforts, he said, have created a more conducive environment for businesses and banks to thrive.

Looking Ahead

Khanal expressed hope that the economic improvements would address issues like excess liquidity in banks and the declining loan-to-deposit ratio. He concluded by stating that the ongoing recovery would help resolve these challenges and strengthen Nepal’s economy in the long run.

For more: Nepal Economic Recovery RBB CEO

24th January 2025, Kathmandu

MetLife Nepal has partnered with Ear Care Nepal to launch a 10-week School Ear Health Program. The program will target 2,400 children in government schools in Kathmandu, Bhaktapur, and Lalitpur.

MetLife Partners Ear Care Nepal

It focuses on children from preschool to grade 10. The goal is to raise awareness about ear health and promote early detection and prevention.

Identifying Ear Problems Early

The program aims to identify and prevent ear-related issues in schoolchildren. With a donation of NPR 513,000, ENT consultants from Ear Care Nepal will visit 8 to 10 schools.

They will conduct hearing screenings using portable audiogram machines. These machines will help test hearing and provide immediate treatment for minor ear problems. Serious cases will be referred for specialized care or surgery.

Promoting Education and Awareness

In addition to the hearing screenings, the program will play a crucial role in educating students, teachers, and parents about the significance of ear and hearing health.

It will provide comprehensive educational materials that highlight the importance of maintaining good ear health, the potential risks of untreated hearing problems, and the impact of early detection.

These resources aim to raise awareness about common ear-related issues, preventative measures, and the need for regular check-ups, ensuring that everyone involved understands the steps to take to preserve hearing health in the long term.

Nirmal Kaji Shrestha, General Manager of MetLife Nepal, expressed pride in this collaboration. He stated that addressing ear health reflects MetLife’s commitment to improving children’s health and creating a lasting impact on the community’s future.

A Commitment to Children’s Health

MetLife Nepal has been operating in Nepal since 2001. The company offers life insurance, accident, health insurance, and employee benefits. Ear Care Nepal, established in 2013, works to resolve ear health issues in schools.

They provide screenings, treatments, and free surgeries for children in need. This partnership aims to improve children’s ear health and contribute to their overall well-being.

For more: MetLife Partners Ear Care Nepal