FMO ups stake in NMB Bank

Published On: November 23, 2016 07:54 PM NPT By: Republica  | @RepublicaNepal

KATHMANDU, Nov 23: FMO, the Dutch development bank, has increased its stake in NMB Bank Ltd.

According to a press release issued on Wednesday, FMO has increased its equity investment from 3 percent to 20 percent.

According to the press release, the investment will allow FMO to further contribute and strengthen the financial sector and indirectly continue to support the renewable energy in Nepal.

“FMO is proud to be a pioneer foreign direct investment (FDI) investor to actively support the financial sector in Nepal,” Linda Broekhuizen, Chief Investment Officer of FMO, was quoted in the release.

FMO will assist NMB to become market leader in managing environmental and social risks and will continue to strengthen NMB’s corporate governance through a substantial technical assistance program, the release added.

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