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Manakamana Development Bank Ltd.
Press Release (February 28, 2013),
In line to Nepal Rastra Banks merger policy, four financial institutions namely Manakamana Development Bank,
Infra Structure Development Bank, Yeti Finance and Valley Finance Ltd have signed an Memorandum of Understanding
(MOU) for merger with an aim to become [A] Class Financial Institution. It is expected that the merger process of
said FIs will complete within this fiscal year. After completion of the process, new banks paid up capital will reach Rs.2.18 billion.
The deposit then will cross Rs. 8 billion with lending size of above Rs. 7 billion. The total number of customers will cross 100,000.
Similarly, post merger the number of branches and ATM outlets will be 38 and 20 respectively.
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Manakamana Development Bank Ltd.
Press Release (February 06, 2013)
Manakamana Development Bank Limited, as part of their product and service innovation, and to further felicitate their
customer has launched "265 Days Fixed Deposit". Under this new Fixed Deposit scheme, the Bank will provide a competitive and
attractive interest rate of 8.50% p.a. for the period of 265 Days. The interest will be paid upon the maturity of the deposit.
The Fixed Deposit can be opened with a minimum balance of NPR.10,000/-. Incase of pre maturity of the deposit, a guaranteed return
of 7.50%p.a.will be provided for the deposit period, which is the new added feature of the product. Further no hidden conditions are applied.
Besides this the Bank also has different array of Saving and Fixed deposit products with competitive rates and value added features.
In addition to the above mentioned facilities the Bank also been providing ATM, Manakamana Mobile Money, Locker, ABBS facilities
with its 14 Branches equipped with modern software.
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Manakamana Development Bank Ltd.
Press Release (January 13, 2013)
Manakamana Development Bank Limited, as part of its service innovation, has successfully launched Mobile Banking Service with the name "Manakamana Mobile Money".
The Bank is the first Development Bank of Nepal to introduce this type of service which will allow its customers to carry mobile wallet.
Bank believes this will add significant value towards customer service and is one more step towards “Exceptional Banking” as stated in bank’s slogan.
Now the customer will be facilitated with their account details and can transact from any mobile reachable place with a single click.
Both deposit/withdrawal can be done using mobile phone. Besides these, other features available are Utility Payments, Fund transfers, account transaction alerts etc.
This service is available from all 14 branches of the bank.
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Manakamana Development Bank Ltd.
Press Release (December 31, 2012)
Manakamana Development Bank Limited, on the auspicious occasion of New Year THE BANK has launched Deposit Product Scheme called " Manakamana Ujjwal Bhabisya Muddati", and Manakamana Ujjwal Bhabisya Bachhat targeting children aged 0-21.
In this Bachhat Scheme account can be opened with a minimum balance of Rs.1,000 with aninterest rate of 7% p.a. Plus discount on Vehicle and Home Loan.
Under Muddati scheme parents/guardians can open Fixed deposit with minimum balance of Rs.25,000/- and above. The deposit carries an attractive interest rate upto 9%.p.a.based on the maturity period. Incase of prematurity of the deposit no charges will be levied. Besides these features the parents/guardians can also avail loan upto 80% of the Fixed Deposit.
In addition to the above facilities the Bank also been providing ATM, locker, ABBS facility etc through its 14 branches equipped with modern banking software.
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Manakamana Development Bank Ltd.
Press Release (June 19, 2012)
Manakamana Development Bank Limited (MDBL) has entered into agreement with HDFC Bank Limited, India regarding the issuance of Indian currency draft. As per the agreement, MDBL will issue HDFC Banks Indian currency drafts which will be honored throughout India. Likewise, MDBL will also accept any Indian currency draft from its customers in Nepal. MDBL believes that this will help the bank to expand its network in India. Similarly, the customers will avail wider banking facility. The bank has been providing various deposit schemes, loan products, ATM, locker, ABBS facility etc through its 14 branches equipped with modern banking software.
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Manakamana Development Bank Ltd.
Press Release (February 3, 2012)
The tenth Annual General Meeting of Manakamana Development Bank Limited successfully concluded on February 3, 2012. The meeting was inaugurated by Mr.Khuma Prasad Aryal, Chairman of the bank. The AGM passed the bank's Annual Report as of fiscal year 2010/11. In fiscal year 2010/11, the bank earned operating profit of NPR 76 million and net profit of NPR 58 million. During the same period, the bank had total deposit base of NPR 2 billion 144 million and total loans and advances of NPR 2 billion and 542 million. Also, the bank was successful to reduce its non-performing asset to 3.12%. The bank has been providing modern banking services to diverse customers through 13 branchs.
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