Mega Bank Nepal’s Deposit Increases

Mega Bank Nepal announced that it would establish provincial headquarters in all seven provinces of the country. Established with the slogan ‘Halo to Hydro – Plough to Power’, the bank has completed seven years of its establishment.

July 25, 2017, 7:23 a.m.

Mega Bank Nepal announced that it would establish provincial headquarters in all seven provinces of the country. Established with the slogan ‘Halo to Hydro – Plough to Power’, the bank has completed seven years of its establishment.

“We have a plan to establish a provincial headquarter in each province,” said Bhoj Bahadur Shah, chairman of the bank. He also stated that the bank has initiated this process by setting up a provincial headquarter in Butwal.

Shah also informed that the bank is finalizing the merger process with Tourism Development Bank. He stated that Mega Bank has prioritized investment in the productive sector and will continue to do so in the future.

Chief Executive Officer of Mega Bank, Anil Keshary Shah writes in his face book wall, “delighted to be celebrating Mega Bank's 7th Anniversary!!! Truly privileged to be part of the Mega family... Thanking the Founders, Promoters, Shareholders, Regulators, Customers and all Well-wishers for your confidence, belief and support of Team Mega, this has always encouraged us to be a truly Mega Team!!!”

In his speech he said that the bank plans to expand its network by opening 20 new branches in the current fiscal year. “We will also be issuing 65 per cent rights share to our shareholders,” he said.

In the last fiscal year 2016-17, the bank’s deposit increased by Rs eight billion to reach Rs 39 billion and its loan rose by Rs 7.4 billion to reach Rs 35.15 billion. The bank’s customer base has reached to 260,000. The bank’s average loan is Rs 3.4 million and average deposit is Rs 149,000.

Mega Bank is currently serving its clients through 47 branches, one extension counter, 50 ATMs, 58 branchless banking centers and over 1,500 Mega Remit agents throughout the country, according to the bank.

On the occasion of its seventh anniversary, the bank handed over Rs 100,000 to ‘Garib Tatha Anath Balika Griha’ located in Bouddha, Kathmandu.

 

 

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