Two months after the
takeover of the management
of financially-troubled
Nepal Bangladesh Bank
by the
Nepal Rastra bank,
this takeover had successful
results, according to NRB.
“The interim management has
been able to recover Rs
700.3 million during these
last two months. The
non-performing asset level
has been reduced to 34 per
cent from an earlier 41 per
cent,” said the coordinator
of the management team. The
central bank intervened in
the NB Bank mid-november and
took over the management to
avoid a possible financial
catastrophe, and deputed a
four-member management team
to run the bank. Following
exposure of the bank’s
difficult financial
position, NB Bank saw a
‘bank-run’, resulting in a
massive withdrawal. In the
last two months, Rs 463.3
million was recovered from
loan investment and Rs 237
million from NB Group.