A Comparative Study of Commercial Banks

8/13/2019 A Comparative Study of Commercial Banks

1/19

This report is based on unaudited Financial Result of 3rd Quarter as at 30/12/2068 of the

fiscal year 2068/69 of all commercial banks of Nepal

A Comparative Study of Commercial Banks

IMS Investment Management Services Pvt. Ltd.

Ph: 977-1-4248628

[email protected]

Khichapokhari, Kathmandu

Analysis on

Commercial Banks

Q3


2/19


www.ShareSansar.com

About Us:

IMS Investment Management Services Pvt. Ltd. hereinafter (IMS) is an organization that is

completely involved in providing services to those who are interested in investing in Nepal

Share market. Its principal activities consist of all clerical and administrative work that assistscorporate as well as individual clients to invest in Nepal Share market. We are committed to the

fundamental principles: Integrity, Service and Performance.

IMS runs Nepals No. 1 financialweb portal www.sharesansar.com which avails all necessary

information related to Nepal Share market to the general public in a most common way. Our

website mainly focus on providing users with dynamic price of listed shares, top news of

financial market, announcement of different financial activities which affects the prices of stock

on daily basis.

Our major focus is to make www.sharesansar.com website up-to-date with daily marketmovements and we are consistent towards our objectives. Website contains comprehensive

and extensive database which is easily accessible by any users within a second. Our website

acts as dynamic platform where live share values of listed companies are automatically updated

as well as information of increasing and decreasing trend of each company is easily accessible.

Our main objective behind publishing this report is to aware general share market investors and

vested interested organization about the performance of commercial banks in 3rd quarter of

current fiscal year 2068/69.
http://www.sharesansar.com/http://www.sharesansar.com/http://www.sharesansar.com/


3/19


www.ShareSansar.com

Majors Highlights of Banking Industry:Figure In 000

3rd Quarter

2068/69 year

3rd Quarter

2067/68 year

% Change

Total Net Profit 9,072,115.55 10,789,879.7 -15.92%

Total Operating Profit 9,227,824.32 12,701,799.52 -27.35%

Total Net Interest Income 21,920,490.27 22,497,587.72 -2.57%

Total Deposits 783,477,674.6 647,759,336.2 20.95%

Total Loans and Advances 571,956,039.5 516,893,737.9 10.65%

Total Investment 179,304,438.2 131,357,870.5 36.50%

Total Provision 6,221,737.38 4,112,686.094 51.28%

Average Non Performing Loan 2.88% 2.48% 16.52%

Average Cost of Fund 8.24% 8.14% 1.24%

Average Net Interest Spread 3.45% 3.24% 6.50%

Annualized Average Earning Per

Share (EPS)

21.60 31.95 -32.38%

Annualized Average Return on

Equity (ROE)

8.61% 10.87% -20.73%

Annualized Average Return on

Asset (ROA)

1.03% 1.55% -33.73%

Annualized Average Price-to-

Earning (P/E ratio) (Times)

21.95 15.44 42.10%


4/19


www.ShareSansar.com

Net Profit

Net profit of commercial banks at the end of third quarter has gone down by 15.92% compared

to the same period of the previous year. The combined net profit of commercial banks was NPR

9.07 billion compared to NPR 10.78 billion in the previous year. According to the unaudited

third quarter financial results, Agricultural Development Bank Limited has the highest profit of

NPR 1145.94 million, up from 1012.09 million in the previous quarter.

Bank ADBNL NABIL SCB NIBL EBL RBB HBL NBBL BOK NSBI NIC

Net

Profit

(in

'000')

1,145,943 1,135,194 850,048 801,005 786,414 661,939 570,228 480,020 400,464 319,006 263,554

MarketShare

(%)

12.63% 12.51% 9.37% 8.83% 8.67% 7.30% 6.29% 5.29% 4.41% 3.52% 2.91%

Bank LAXMI Nepal

Bank

GLOBAL Prime

Bank

SBL Grand Bank of

Asia

NCCB LUMBINI Citizen

Bank

KBL

Net

Profit

(in

'000')

250,065 188,586 172,292 171,117.6 148,251 141,153 117,350 115,297 107,899 100,438 85,963

Market

Share

(%)

2.76% 2.08% 1.90% 1.89% 1.63% 1.56% 1.29% 1.27% 1.19% 1.11% 0.95%

Bank Sunrise

Bank

Sanima

Bank

NMB Janata Mega Civil

Bank

MBL C&T

Bank

Century

Bank

KIST

Net Profit (in

'000')

79,451 78,337 69,202 43,783 40,023 6,742 6,688 3,945 -36,206 -153,739

Market Share

(%)

0.88% 0.86% 0.76% 0.48% 0.44% 0.07% 0.07% 0.04% -0.40% -1.69%

Table 1: Net Profit of Commercial Banks (Figure in 000)


5/19


www.ShareSansar.com

During the review period, Mega Bank Limited has highest net profit growth rate i.e. 189.02

percent compared to corresponding quarter of previous year whereas Century Commercial

Bank Limited shows a dismal performance, its profit decreases by 339.37 percent.

Bank Mega NBBL Janata Grand NABIL Civil

Bank

ADBNL EBL GLOBAL Sunrise

Bank

SCB

Growth

Rate (%)

189.02% 144.09% 83.48% 21.11% 19.64% 18.82% 13.22% 12.60% 9.22% 2.63% 1.62%

Bank NSBI NCCB LAXMI BOK HBL NIBL NIC Prime Bank MBL SBL

Growth

Rate (%)

0.65% -8.48% -10.80% -11.26% -14.34% -16.53% -25.95% -34.51% -35.56% -38.10%

Bank Bank of

Asia

Citizen

Bank

RBB KBL NMB LUMBINI Nepal

Bank

C&T Bank KIST Century

Bank

Growth

Rate (%)

-38.35% -42.38% -47.74% -52.62% -60.86% -62.29% -68.40% -77.52% -218.18% -339.77%

Table 2: Change in Net Profit of Commercial Bank

Market Share (%)

ADBNL

NABIL

SCB

NIBL

EBL

RBB

HBL

NBBL

BOK

NSBI

NIC

LAXMI

Nepal Bank

GLOBAL


6/19


www.ShareSansar.com

Operating Profit:

During the review period, operating profit of the commercial banks decreases by 27.35% at

Rs.9.22 billion as compared to corresponding quarter of previous financial year. NABIL Bank

Limited has able to earn highest operating profit among all the banks during the review period.

Bank NABIL SCB EBL HBL NIBL BOK NSBI NIC LAXMI GLOBAL Prime

Bank

Operating

Profit

(in'000')

1,626,093 1,233,691 1,231,809 887,063 850,462 611,262 443,407 412,095 384,912 267,618 261,293.3

Market

Share

17.62% 13.37% 13.35% 9.61% 9.22% 6.62% 4.81% 4.47% 4.17% 2.90% 2.83%

Bank SBL Nepal

Bank

Grand Bank of Asia LUMBINI KBL Sanima

Bank

NCCB NMB Citizen

Bank

Janata

Operating

Profit

(in'000')

232,413 226,565 186,809 182,974 148,068 131,601 123,217 96,786 85,323 69,683 68,722

Market

Share

2.52% 2.46% 2.02% 1.98% 1.60% 1.43% 1.34% 1.05% 0.92% 0.76% 0.74%

-400.00%

-300.00%

-200.00%

-100.00%

0.00%

100.00%

200.00%

300.00%

Growth Rate (%)


7/19


www.ShareSansar.com

Bank Mega NBBL RBB Civil

Bank

C&T Bank Century

Bank

MBL Sunrise

Bank

KIST ADBNL

Operating

Profit

(in'000')

62,323 28,683 17,878 10,594 6,198 -36,799 -53,682 -60,691 -154,317 -231,012

Market

Share

0.68% 0.31% 0.19% 0.11% 0.07% -0.40% -0.58% -0.66% -1.67% -2.50%

Table 3: Operating Profit of Commercial Banks (Figure in 000)

Mega Bank Limited has a highest growth rate of 186.52% whereas Century Commercial Bank

Limited suffers a significant decline in operating profit.

Bank Mega CivilBank

Janata EBL NABIL GLOBAL Grand SCB HBL NSBI BOK LAXM

Growth

Rate (%)

186.52% 155.13% 82.83% 12.60% 11.85% 7.90% 2.00% -2.81% -3.41% -3.47% -8.74% -11.93

Bank NIC LUMBINI MBL ADBNL PrimeBank

SBL Bank of Asia NIBL NCCB KBL

Growth

Rate (%)

-24.04% -33.28% -33.71% -34.57% -35.80% -38.01% -38.83% -41.73% -42.95% -49.51%

Bank NBBL NMB NepalBank

Citizen

Bank

C&T

Bank

RBB Sunrise

Bank

KIST Century Bank

Growth

Rate (%)

-62.66% -66.61% -69.80% -73.96% -77.52% -98.07% -150.07% -176.58% -37,269.69%

Table 4: Change in Operating Profit of Commercial Bank

Net Interest Income (NII):

Net interest income (NII) is the difference between revenues generated by interest-bearing

assets and the cost of servicing (interest-burdened) liabilities. The major source of earning of

commercial banks is net interest income. Due to higher lending rate and subsequent increment

on the yield on asset, total Net Interest Income of the banking industry has decline by meager

2.57% during the review period. This shows that despite of higher cost of funds, commercial

banks have been able to maintain NII and didnt let to decline as much as of net profit. During

the review period, Century Commercial Bank Limited has able to increase highest net interest

income where as Machhapuchchhre Bank Limited NII declined most among all the commercial

banks.


8/19


www.ShareSansar.com

Bank Change In Net

Interest Income

(Increase)

Bank Change In Net Interest

Income (Decrease)

Century Bank 476.03% Nepal Bank -22.15%

Civil Bank 165.29% Sunrise Bank -26.55%

Mega 61.87% KIST -29.32%

Janata 33.63% NBBL -37.43%

C&T Bank 32.19% MBL -45.24%

Table 5: Change (increase/decrease) in Net Interest Income (%) of Top 5 Commercial Banks

Deposits:

The deposits of commercial banks as of third quarter of the current fiscal year have increased

by 20.95% to Rs.783.47 billion compared to same period of last fiscal year. Increase in deposit

figure clearly depicts that the overall banking sector liquidity problem have eased down

immensely. Presently inter-bank lending rates are almost nil which again indicates that

commercial banks have excess liquidity reserve with them.

Rastriya Banijaya Bank Limited has largest amount of deposits among all commercial banks

whereas Nabil Bank Limited leads the race among all banks excluding government holding

banks. During the review period, Century Commercial Bank Limited has the highest growth rateof deposit at 915.55% whereas as Standard Chartered Bank Limited has lowest growth rate of

1.20% among all the commercial bank.

Bank Total Deposit

(Rs.)

Market Share

(%)

Rank

RBB 79,811,245 10.19% 1

NABIL 54,628,915 6.97% 2

NIBL 54,287,506 6.93% 3

NSBI 52,234,858 6.67% 4

Nepal Bank 48,917,632 6.24% 5

Table 6: Total Deposits of Top Five Commercial Banks (Figure in 000)


9/19


www.ShareSansar.com

Bank Change in Deposit

(Increase)

Bank Change In Deposit

(Decrease)

Century Bank 915.55% Citizen Bank 10.26%

Civil Bank 291.68% LUMBINI 7.60%

Mega 174.52% Bank of Asia 3.52%

Janata 173.76% MBL 3.03%

C&T Bank 134.94% SCB 1.20%

Table 7: Change (increase/decrease) in Deposits (%) of Top 5 Commercial Banks

Loan and Advances:

Loan and advances have increased by 10.65% at Rs.571.95 billion during the review period. As

compared to increment of deposits, growth rate of loans and advances is less. This indicates

that commercial banks were unable to find appropriate/required clients for lending their excess

liquidity in the market. Century Commercial Bank Limited has highest growth rate in lending i.e.4365.75% whereas Machhapuchchhre Bank Limited has a negative growth (i.e. 14.89%). Most

of the new commercial banks have higher lending growth which signals that they have been

aggressive than former commercial banks.

In total 3 commercial banks real estate loan exposures have stood above 20 percent which is

higher than Nepal Rastra Bank set limit. Grand Bank Limited has the highest percentage of loan

0

20000000

40000000

60000000

80000000

RBBNABIL

NIBLNSBI

Nepal

Bank


10/19


www.ShareSansar.com

exposure in real estate sector i.e. 22.58% whereas Agriculture Development Bank Limited has

the lowest percentage i.e. 0.75%. There is a satisfactory growth in long term loans (term loan)

of commercial banks i.e. 8.26% compared to same period of last fiscal year. Maximum money

lent for project financing like hydropower projects, industrial projects and other manufacturing

and service sectors that can emphatically help in sustainable growth of an economy.

Bank Total Loan and

Advances (Rs.)

Market Share Rank

NIBL 43,153,935 7.54% 1

NABIL 41,589,342 7.27% 2

RBB 37,391,783 6.54% 3

ADBNL 36,003,510 6.29% 4

EBL 35,340,245 6.18% 5

Table 8: Total Loans & Advances of Top Five Commercial Banks (Figure in 000)

Bank Change in Loan and

Advances (Increase)

Bank Change in Loan and

Advances (Decrease)

Century Bank 4,365.75% RBB 3.26%

Civil Bank 181.76% NIBL 1.28%

C&T Bank 141.07% Bank of Asia -0.24%

Janata 126.40% NBBL -0.95%

Mega 118.97% MBL -14.89%

Table 9: Change (increase/decrease) in Loan and Advances (%) of Top 5 Commercial Banks

Bank Change in Real Estate Loan

(Increase)

Bank Change in Real Estate Loan

(Decrease)

Grand 22.58% Nepal Bank 5.52%

SBL 20.67% RBB 5.06%

Prime Bank 20.48% C&T Bank 3.99%

NIBL 19.75% Mega 3.36%

KIST 19.45% ADBNL 0.75%

Table 10: Change (Increase/decrease) in Real Estate Loan (%) of Top 5 Commercial Banks

Total Provision:

Total loan loss provisions have always been major concern for commercial banks. During thereview period loss provision rose by whopping 51.28% as compared to corresponding previous

quarter of last fiscal year. The total provision of possible losses stood at Rs.6.22 billion which is

a worrying signal for overall banking industry. Troubling real estate sector, plunging share

market, deteriorating industrial environment, etc. have made a big impact on general public

capacity to pay back their principal and interest on time resulting surge in total loan loss


11/19


www.ShareSansar.com

provisions of banks. Increased provision has led drastic decrease in net profit of commercial

banks this time.

Bank Total Provision (Rs.)

Highest 5*

Bank Total Provision (Rs.)

Lowest 5*

ADBNL 1,649,827 Mega 40,278

NIBL 615,633 Century Bank 38,816

RBB 581,613 Civil Bank 33,101

NABIL 516,588 C&T Bank 25,733

KBL 266,634 Janata 23,442

Table 11: Total Provision of Commercial Banks (Figure in 000) *In Descending order

Non Performing Loan:

The risks of commercial banks have increased during the review period as compared to same

period of previous fiscal year. The average non-performing loans as a percentage of total loans

have increased to 2.88 percent from 2.48 percent last year. Out of 32 commercial banks, 5

banks NPA stood above 4% which is considered risky while others maintained below that level.

Most of the new commercial banks NPA level is low or zero.

Bank Highest 5* Bank Lowest 5*

RBB 10.58% Janata 0.03%NBBL 10.32% Century Bank 0.00%

ADBNL 8.44% Civil Bank 0.00%

Nepal Bank 5.44% C&T Bank 0.00%

KIST 4.81% Mega 0.00%

Table 12: Non Performing Loan (%) of Commercial Banks *In Descending order

Earning per Share (EPS) and Return on Equity (ROE):

The significance of EPS is obvious, as the viability of any business depends on the income it cangenerate. Earnings per share allow us to compare different companies power to make money.

Decrease in net profit has badly hit the EPS of banks this time. During the review period, the

annualized EPS of banking industry put up Rs.21.60 compared to Rs.31.95 on same period last

fiscal year. Amongst all, only 10 commercial banks have earned above industry average.


12/19


www.ShareSansar.com

The average return on equity stood up mere 8.61% compared to 10.87% of last fiscal year

corresponding period. This shows that commercial banks have not been able to increase their

profits in the ratio of growth of their paid up capital. Consequently, investors can expect less

return in coming fiscal year.

Bank Annualized EPS (Rs.)

(Highest 5)*

Bank Annualized EPS (Rs.)

(Lowest 5)*

EBL 75.35 Civil Bank 0.74

RBB 75.28 MBL 0.54

NABIL 74.56 C&T Bank 0.37

SCB 70.39 Century Bank -4.46

Nepal Bank 66.10 KIST -10.24

Table 13: Annualized EPS of Commercial Banks * In Descending Order

Bank ROE (Highest 5)* Bank ROE (Lowest 5)*

EBL 20.16% C&T Bank 0.28%

NABIL 19.90% Century Bank -3.23%

SCB 18.77% Nepal Bank -4.67%

NBBL 18.29% KIST -7.73%

BOK 14.12% RBB -8.30%

Table 14: Annualized Return on Equity (%) of Commercial Banks (%) * In Descending Order

Price to Earnings Ratio:

The P/E gives you an idea of what the market is willing to pay for the companys earnings. The

higher the P/E the more the market is willing to pay for the companys earnings.Some investors

read a high P/E as an overpriced stock and that may be the case, however it can also indicate

the market has high hopes for this stocks future and has bid up the price. The overall average

annualized P/E ratio of banking industry is 15.65 which indicate that the current price of

commercial banks in secondary market is correctly valued. (P/E Ratio around 10-15 is regarded

as correct value as per international standard).

(Note: P/E Ratio of Machhapuchchhre Bank Limited is excluded while calculating average

annualized P/E ratio)


13/19


www.ShareSansar.com

Bank Annualized P/E Ratio

(Highest 5)*

Bank Annualized P/E Ratio

(Lowest 5)*

NBBL 4.45 NSBI 30.72

ADBNL 8.18 Bank of Asia 32.46

GLOBAL 11.15 KBL 35.54

NCCB 12.74 Citizen Bank 37.19

EBL 13.00 NMB 46.81

Table 15: Annualized P/E ratio of Commercial Banks *(Times) (In Ascending Order)

Overall Conclusion:

Escalating cost of operations due to inflationary pressure, exceeding liquidity resulting in lower

returns, increasing provision against loan of real estate sectors, unstable socio-political

environment and growing local competition have adversely affected the growth and net profit

of commercial banks as of 3rd

quarter of the current fiscal year 2068/69.

Therefore, commercial banks should continuously improve their service standards, analyze

each cost component minutely to bring down their cost of operations, introduce new products

to drive the market, and carry out cautious approach in business segments especially in credit

risk assets.

Lacking political stability coupled with slacking economic growth, widening trade deficit, rising

inflationary rate and arousing number of defaulters in the banking industry continues to remainthe major challenges ahead.


14/19


www.ShareSansar.com

Last 5 Year Dividend distribution history of Commercial Banks

S.n. Commercial Banks Particulars Indicator 2063/64 2064/65 2065/66 2066/67 20

2006/07 2007/08 2008/09 2009/10 20

1 Nepal SBI Bank Limited Earning Per Share (EPS) Rs 39.35 28.33 36.18 23.69

Dividend (Including Bonus Share) % 47.59 - 42.11 17.5

Cash Dividend % 12.59 - 2.11 5

2 Himalayan Bank Limited Earning Per Share (EPS) Rs 60.66 62.74 61.9 31.8

Dividend (Including Bonus Share) % 40 45 43.56 36.84

Cash Dividend % 15 25 12 11.84

3 Siddhartha Bank Limited Earning Per Share (EPS) Rs 15.88 17.29 22.89 21.99

Dividend (Including Bonus Share) % 15.79 15.79 15.79 10.03

Cash Dividend % 0.79 0.79 0.79 10.03

4 Sunrise Bank Limited Earning Per Share (EPS) Rs - -3.89 6.78 16.35

Dividend (Including Bonus Share) % - - - 10

Cash Dividend % - - - 10

5 Global Bank Limited Earning Per Share (EPS) Rs -7.94 8.91 2.63 4.95

Dividend (Including Bonus Share) % - - - -


6 Laxmi Bank Limited Earning Per Share (EPS) Rs 10.75 16.45 20.7 24.12

Dividend (Including Bonus Share) % - 21.05 5.26 13

Cash Dividend % - 1.05 0.26 13

7 NMB Bank Limited Earning Per Share (EPS) Rs 37.57 7.28 4.42 10.65

Dividend (Including Bonus Share) % 30 10.53 - 10.53

Cash Dividend % 30 - - 10

8 Standard Chartered Bank Earning Per Share (EPS) Rs 167.37 131.92 109.99 77.65

Dividend (Including Bonus Share) % 130 130 100 70

Cash Dividend % 80 80 50 55

9 Nabil Bank Limited Earning Per Share (EPS) Rs 137.08 115.86 113.44 83.81




15/19


www.ShareSansar.com

10 Sanima Bank Limited Earning Per Share (EPS) Rs 5.86 5.6 7.53 10.63

Dividend (Including Bonus Share) % - - 5 -


11

Nepal Investment Bank

Limited Earning Per Share (EPS) Rs 62.57 57.87 37.42 52.55

Dividend (Including Bonus Share) % 30 40.83 20 25

Cash Dividend % 5 7.5 20 25

12 Everest Bank Limited Earning Per Share (EPS) Rs 78.42 91.82 99.99 100.16



13

Citizens Bank International

Limited Earning Per Share (EPS) Rs -2.75 8.79 9.58 19.36

Dividend (Including Bonus Share) % - - 10 12.63

Cash Dividend % - - 10 12.63

14

Prime Commercial Bank

Limited Earning Per Share (EPS) Rs - 4 20.39 29.54

Dividend (Including Bonus Share) % - - 10.526 20.526

Cash Dividend % - - 0.526 10.526

15 Bank of Asia Nepal Limited Earning Per Share (EPS) Rs - 0.64 6.15 13.86

Dividend (Including Bonus Share) % - - 5 10.53

Cash Dividend % - - 5 10.53

16 Bank of Kathmandu Limited Earning Per Share (EPS) Rs 43.5 59.94 54.68 43.08

Dividend (Including Bonus Share) % 20 42.11 47.37 30

Cash Dividend % 20 2.11 7.37 15

17 DCBL Bank Limited (Grand) Earning Per Share (EPS) Rs 16.78 4.96 6.23 9.07

Dividend (Including Bonus Share) % 12.63 - 9.78 10.53

Cash Dividend % 0.63 - 0.26 0.53

18

Agricultural Development

Bank Limited Earning Per Share (EPS) Rs 65.14 32.21 50.91 62.3


Cash Dividend % - - - -


16/19


www.ShareSansar.com

19

Century Commercial Bank

Limited* Earning Per Share (EPS) Rs - - - -



20 Civil Bank Limited Earning Per Share (EPS) Rs - - - -



21 Lumbini Bank Limited Earning Per Share (EPS) Rs 32.07 32.91 30.31 23.49



22 Kist Bank Limited Earning Per Share (EPS) Rs 13.13 5.91 4.48 7.21

Dividend (Including Bonus Share) % 5 5 3.5 5

Cash Dividend % 10 5 3.5 5

23

Machhapuchchhre Bank

Limited* Earning Per Share (EPS) Rs 9.02 10.35 8.33 4.96

Dividend (Including Bonus Share) % - 21.05 - 10

Cash Dividend % - 1.05 - -

24 NIC Bank Limited Earning Per Share (EPS) Rs 24.01 25.75 27.83 34.3

Dividend (Including Bonus Share) % 21.05 21.05 15.79 26.32

Cash Dividend % 1.05 1.05 0.79 26.32

25 Kumari Bank Limited Earning Per Share (EPS) Rs 22.7 16.35 22.04 24.24

Dividend (Including Bonus Share) % 21.05 10.53 10.58 12

Cash Dividend % 1.05 0.53 0.55 12

26

Commerz and Trust Bank

Nepal Limited Earning Per Share (EPS) Rs - - - -



27 Mega Bank Limited Earning Per Share (EPS) Rs - - - -



28 Janata Bank Limited Earning Per Share (EPS) Rs - - - 0.69




17/19


www.ShareSansar.com

29

Nepal Credit and

Commerce Bank Limited Earning Per Share (EPS) Rs -16.53 35.63 29.35 30.28



30

Rastriya Banijaya Bank

Limited* Earning Per Share (EPS) Rs 419.65 446.13 499.27 526.08



31

Nepal Bangladesh Bank

Limited* Earning Per Share (EPS) Rs - 80.16 116.01 54.9

Dividend (Including Bonus Share) # % - - - -


32 Nepal Bank Limited* * Earning Per Share(EPS) Rs

Dividend (Including Bonus Share) %

Cash Dividend %

* Audited Financial report is due of 2067/68 fiscal year.

**Presently its in NRB control and surveillance. AGM is not held since last 10 years.


18/19


19/19


www ShareSansar com

Corporate Clients

Disclaimer:The views expressed on this document are a general guide to the views of Share Sansar. Use or distribution of this

document by any other person is prohibited. Copying any part of these materials without the written permission of

Share Sansar is prohibited. Care has been taken to ensure the accuracy of content but no responsibility is accepted

for any errors or omissions herein. The information and opinions in these materials have been complied or arrived

at based upon information obtained from sources believed to be reliable and in good faith. Share Sansar accepts no

liability for any damages or any loss or damages of any kind arising from any use of the information herein.

Date post:	04-Jun-2018
Category:	Documents
Upload:	kiran-poudel
View:	224 times
Download:	0 times

A Comparative Study of Commercial Banks

Documents