The number of commercial banks reached 32 in the country as Nepal Rastra Bank (NRB) has issued license to Sanima Bank to operate as commercial bank on Saturday.
With the upgradation, Sanima started its operation as commercial bank from Wednesday.
The board meeting of central bank on October 25, 2011 had decided to issue Letter of Intent (loI) for the upgradation of the bank to Nepal’s 32nd commercial bank.
Sanima, promoted by Non-Resident Nepalis (NRNs), was established as development bank in 2004. The bank’s paid up capital stands at Rs. 2.1 billion. nepalnews.com