ICRA Nepal Limited has confirmed NIC Asia Bank Limited’s grade. The rating has been removed from the ‘Watch with Negative Implications’ category and moved to the “Issuer Not Cooperating” category, with the following notification for rating withdrawal: The rating agency has assessed the bank’s NPR 3,000 million subordinated debenture as [ICRANP] LBBB “Issuer Not […]
According to the Nepal Bankers Association (NBA), the interest rate on fixed deposits would be reduced beginning in the approaching month of Baishakh, 2080. The majority of banks indicated support for decreasing the interest rate at the Bankers’ Association meeting on Wednesday, and the decision was taken to also cut the term interest rate.
During its conference, the Development Bankers Association, an association of Development Bank CEOs, also resolved to drop the interest rate. The committee members have agreed to reduce the deposit interest rate by 1%. According to development banks, the interest rate on personal term deposits will now be 10.6 percent rather than 11.6 percent. Similarly, the
The Nepal Insurance Authority has licensed two more microinsurance businesses. At its meeting on Tuesday, the authority’s board of directors voted to provide licenses to two more micro insurance companies. The authorities have given licenses to Protective Micro Insurance Ltd Nepal and Crest Micro Life Insurance Ltd.
Hathway Investment Nepal Limited (Hathway), Nepal’s first private-equity investment firm, generated Rs. 1277 million in operating income (OI) in fiscal year 2022. For FY 23, the company has projected an operating income of around Rs. 116 million. ICRA Ratings has assigned a long-term rating of LBBB to Hathway for long-term loans totaling Rs. 147.7 million
Vijay Distillery Private Limited (VDPL), which manufactures liquor brands such as Ruslan Vodka, generated Rs. 2085 million in sales revenue in 2022. The company’s revenue has decreased by Rs. 59.3 crores compared to FY 2021. For fiscal year 20/21, the company generated sales revenue of Rs. 2678 crore (Million). VDPL’s profit margin for FY2022
Nepal Rastra Bank (NRB), Nepal’s central bank, has released the country’s current macroeconomic and financial situation based on eight months of data ending in mid-March 2022/23.
Today’s gold price has risen by Rs. 500 in the domestic market. According to the Federation of Nepal Gold and Silver Dealers’ Association’s official website, fine gold is currently trading at Rs. 109,800 per tola. Yesterday, the rate remained unchanged at Rs. 109,300 per tola. Meanwhile, Tejabi gold is currently trading at Rs. 109,300.
Himalaya Urja Bikas Company Limited (HURJA) has been granted permission by the Electricity Regulatory Commission (ERC) to issue rights shares to the general public. The Electricity Regulatory Commission (ERC) has approved the distribution of right shares in a 1:1 ratio. The company proposed issuing right shares in a 1:2 ratio, or 200% of the
Today’s gold price has dropped by Rs. 700 per tola. According to the Federation of Nepal Gold and Silver Dealers’ Association’s official website, fine gold is currently trading at Rs. 109,300 per tola. Yesterday, the rate remained unchanged at Rs. 110,000 per tola. Meanwhile, Tejabi gold is currently trading at Rs. 108,800. In contrast,
The Investors’ Association has focused significant attention on the financial and psychological effects of the stock market on regular investors, which have been steadily declining for a long time. Despite the fact that over 55 lakh investors lost a total of nearly Rs. 15 Kharba following the all-time high market capitalization on August 18,
The Insurance Authority has recently prioritized working with micro-insurance companies. The authority recently granted licenses to seven new microinsurance companies. Previously, the Nepal Insurance Authority issued a notice inviting applications from companies interested in operating a micro-insurance company in Nepal. Similarly, three micro life insurance companies and four micro non-life insurance companies were chosen
