International Development Bank, Nepal

New branch for IDBL in Pokhara (January 30, 2010, Kathmandu)

IDBL opened its fourth branch at Chipledunga in Pokhara on Friday 29 January
 

Third branch for IDBL in Sukedhara (January 10, 2010, Kathmandu)

International Development Bank opened its third branch in Sukedhara, Kathmandu on Wednesday. Guinness record holder Min Bahadur Sherchan opened the new branch. The new branch proves modern banking services like ABBS, ATM and others. The bank started its operation from September, 2009. The bank has so far mobilized deposits worth Rs 1.32 billion and disbursed loans amounting to Rs. 1.60 billion. IDBL earned an operating profit of Rs 290 million during the period. IDBL has plan to open 10 branches by the end of current fiscal year.

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Second branch for IDBL (December 7, 2009, Kathmandu)

International Development Bank Ltd established its second branch in Inaruwa of Sunsari district. Chief District Officer Ram Prasad Thapaliya inaugurated the branch amid a function on Sunday. The bank based in Kathmandu started its service from September 4 this year. The bank is planning to open 20 branch offices within this fiscal year.

IDBL comes into operation (September 21, 2009, Kathmandu)

At a time when the debate regarding the viability of ventures of more banks and financial institutions is going on, one more development bank has made foray into the country's financial sector. International Development Bank Limited has formally commenced its operation.
IDBL, which has its prime office at Teku, Kathmandu, is the 12th development bank of national level. The authorized capital of the bank stands at Rs 2 billion whereas it boasts of Rs 640 million as issued capital. Similarly, the paid-up capital of IDBL amounts to Rs 440.8 million. read more

 

September 15, 2009

CG Finco-IDB deal

Chief Executive Officer of International Development Bank, Rajaram Khadka, and General Manager of CG-Finco, Ashish Sharma, signed an agreement to provide Western Union money transfer service. According to Khadka, Western Union Money Transfer service would add extra mileage to the bank and benefit people. read more

Summer 2009: International Development Bank Limited becomes member of SCT Network

 

March 23, 2009

IDBL to make foray into banking market

An investors' group has started process to open a development bank International Development Bank Limited (IDBL) after it received a 'letter of intent' from the Nepal Rastra Bank (NRB). A team of 514 promoters under the chairmanship of former executive director of the central bank, Madhav Prasad Bhatta, is involved in the process of opening the new bank.

Bhatta said in a press meet on Saturday that they had plans to start the operation of bank by mid-July this year. However, the group said it has already opened its office at Teku, Kathmandu and has already started the process to recruit human resources.

The bank will have authorized capital at Rs. 2 billion. The issued and paid-up capital combined will be at Rs. 640 million. " As much as Rs.448 million (70 percent) out of Rs. 640 billion will be generated from the promoters' group and the remaining amount of Rs. 192 million will be collected through issuance of ordinary shares," said Bhatta.

Read this whole Kathmandu Post article at www.ekantipur.com

 

Contact/Address of IDBL: Ambe Complex, Teku, Kathmandu, more details and phone number click here

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In the coming months we'll publish more news items regarding the opening/introduction of this International Development Bank on this website. If you have any news, don't hesitate to contact us.

 

More financial news from Nepal

 

More development banks in Nepal (amongst others):

 

 

Other news regarding development banks in Nepal:

29-1-2010 Siddhartha Dev Bank opens 11th branch  

Siddhartha Development Bank opened its 11th branch in Bauddha, Kathmandu on Thursday. Bank chairman Shekhar Aryal inaugurated the branch. The bank has also installed Automated Teller Machine in the new branch. read more

20-11-2009 Business Development Bank plans upgrade  

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. read more

17-11-2009 Door opens for Agricultural Development Bank Ltd IPO

The Agricultural Development Bank Limited has named its issue manager Ace Development Bank as underwriter of its ordinary share issue. It has opened door for ADBL to get approval from Securities Board of Nepal for issuing shares. The ADBL is working to issue ordinary shares worth Rs. 960 million which is the largest ever initial public offering (IPO) in the country. read more

18-10-2009 Infrastructure Development Bank is planning to become development bank

Infrastructure Development Bank Limited has reached an agreement with GroMore Merchant Banker to issue right shares worth Rs 48 crore in the ratio of 1:1.5. IDBL managing proprietor Dr Indra Raj Humagain and GroMore Bank’s issue and sales general manager Kabindradhoj Joshi signed the accord on behalf of their respective organisations. read more

 

 

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