Nepal Rashtra Bank Governor Chiranjibi Nepal Inaugurated the new head office of Global IME Bank in Kathmandu. The bank opened its corporate office in Kathmandu eleven years after the establishment of bank in Birghnj

Inaugurating the new head office of Global IME Bank, Governor Chiranjibi Nepal has urged banks and financial institutions to maintain discipline and explore prospects of luring deposits before making commitments for new loans.

Governor Nepal criticised the management heads (CEOs) of banks for being short-sighted while planning their portfolios and only looking for profits. “Bankers are supposed to be patient as haphazard loan expansion will not support them to move ahead,” said Nepal. “NRB will take action against banks that breach permissible CCD level.”

He further alleged that the banks have been expanding loans on assumption that the central bank will consider the ‘difficult situation’ claimed by the bankers, and said that the central bank will, however, not tolerate breach of rules.

Citing there is liquidity of Rs 43 billion in the system, the governor urged public not to panic as it is just the crisis of loanable funds and not liquidity crunch.

Governor Nepal also informed that the central bank is in discussions with the Ministry of Finance to provide some way out to address the ‘temporary problem’ of credit crunch.

In the inauguration program, Chairman of Global IME Bank, Chandra Dhakal has said that the bank is able to expand its service thanks to the support and patronage given by depositors, shareholders, well-wishers and employees.

According to a press release issued by Sunita Sharma Dhakal Marketing & Business Promotion, Global IME Bank Limited, the bank has opened four branches in different parts of Nepal celebrating eleventh anniversary of the bank. Those new branches include Kamladi, Gothathar of Bhaktapur, Purchaudi Municipality of Baitadi, Gadakot of Gulmi and Damak Municipality of Jhapa. The bank has now 113 branches covering all seven provinces.