POKHARA, Nov 20: Business Development Bank, a regional level development bank based in Pokhara, is soon upgrading itself into a national level bank.
The bank plans to raise its paid up capital to Rs 650 million for upgrading. For this, the bank has undertaken the rights issue at the ratio of 1:2.1.
“After the rights issue, which will end on November 24, our paid up capital will be Rs 650 million. Then we will be a national level development bank,” the bank in a statement on Thursday. It has further unveiled a plan to open a branch in Kathmandu soon.
The bank has earned an operating profit of some Rs 20 million in the first quarter of the current fiscal, said Krishna Raj Parajuli, chief executive officer of the bank.
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