| Central bank of Nepal has ordered Kumari Bank Ltd. to move out Noor Pratap Rana from its Board of director. The promoter shareholder had decided to appoint Rana in the board one day before its Annual General meeting. There was huge dissatisfaction regarding this matter in the AGM. There after, the President of the Bank, Shivaratan Sharada had requested for opinion from the Central Bank. The board members of the KBL is in fragment. Central Bank had called the board member on dialogue and asked to settle down the dispute. Bank's board of director had sent a written letter to the Central Bank specifying no to clash on the issue anymore. The board has, Shivaratan Sharada as a president, and Amir Pratap Rana, Santu Shrestha, Shyamshan Rana, Jagdish Prasad Chaudhary, Shovakanta Dhakal, Rashendra Bahadur Malla and Noor Pratam Rana as a member. Kumari Bank has earned Rs.170 million as a profit during the nine month of the current fiscal year, where as it had accumulated Rs. 144.90 million net profit during the corresponding previous year for the same duration. |
| Source: JNS |
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