KATHMANDU, April 11: The Special General Assembly of Gurkha Development Bank (GDB) on Monday unanimously elected a six-member board of directors (BoD). The new BoD has decided to go for merger if it gets proposals from qualified partners and restore the bank´s financial health.
The assembly unanimously elected Prem Bahadur Begha, Jayanti Kala Rai, Dharma Kumar Rai and Aamod Dumjon from promoters and Ram Kaji Paudel and Puspa Lal Aryal from public shareholders. The BoD will select its chairman within a few days, according to an official of the bank.
Nepal Rastra Bank (NRB) on March 25 had delcared GDB a ´troubled´ bank and directed to elect a new BoD by holding special general assembly within 15 days.
The new BoD is likely to hold discussions with senior NRB officials to work out its plans. “The board is positive about opening the bank from coming Sunday. It, however, depends on our discussion with NRB officials,” a senior official at the bank told Republica. The official further said the bank has deposit of Rs 4.19 billion and loans and advances of Rs 4.29 billion as of Monday.
The bank was declared ´troubled´ mainly due to poor governance and subsequent deterioration of its financial health. The bank had shut down its counters from March 29 after failing to pay its depositors.
Published on 2011-04-11 20:50:57
http://www.myrepublica.com/portal/index.php?action=news_details&news_id=30190
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