The finance company, established in 1992, is starting the upgraded financial intermediary services with the new name after Nepal Rastra Bank licensed it to upgrade into a national level development bank last month.[break]
Speaking at a press meet organized to make the new announcement, company officials said they have always valued corporate governance, transparency, sustainable development and qualitative customer service, and will continue to live by the values.
They said the company has already devised and developed its strategic plan, system and processes, resources allocation, organizational development and technological upgradation plan.
Annapurna was already providing 365 days banking services, operating evening counter service and providing internet and SMS banking service. “With the upgradation, we now plan to introduce our own remittance service,” reads a statement released by the company.
Besides providing quality services to its depositors and borrowers, the company said it will focus more on development of sectors like tourism, hydropower, agriculture, business and industries.
The company´s paid up capital as of mid-April 2012 stands at Rs 704.3 million. Its total deposits run at Rs 4.42 billion and total lending and investment stands at Rs 3.89 billion and Rs 258.40 million respectively. The company has been operating with 19 branches and nine ATM outlets throughout the country.
On Thursday, it also unveiled a plan to add three new branches by the end of this fiscal year.
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