Kathmandu. Commercial banks have been compelled to cut operating expenses due to the fall in income due to the contraction in credit flow. In order to reduce operating expenses, they have started taking decisions to close or merge branch offices along with cutting the cost of daily transactions and service delivery. <\/p>\n
Banks have started shutting down the branches that are found to be weak in terms of business and expensive in terms of operating costs. <\/p>\n
Global IME Bank has merged its branch office at Dhobighat Ring Road with its branch office at Tinkune Koteshwor. Similarly, NIC Asia Bank has decided to close its branches in Dillibazar, Lazimpat and Chhetrapati branches. The bank has also published a public notice for auction of furniture of these branches. <\/p>\n
Siddhartha Bank has already announced the closure of its branch at Kuleshwor University Road in view of the merger of its branch office in Kalimati. The extension counter at Sirutar of Suryabinayak Ward No. 1 has been closed since June 18. The municipality has also closed the extension counter located in Itahari Ward No. 6 since June 19. The taxpayer extension counter at Lamki Chuha Municipality-1 has been closed since May 23. Earlier, the bank had closed seven branchless counters on July 31. <\/p>\n
Similarly, Siddhartha Bank is shutting down one branch of New Road from October 16. Similarly, the branch of Kalopul, Kuleshwor, Nardevi, Jawalakhel, Buddha Chowk, Chiple Dhunga and Bagar of Pokhara has been closed since July 17. <\/p>\n
Similarly, Machhapuchchhre Bank has closed its branches at Thamel, Kalanki, Koteshwor, Khushibu, Balaju, Lama Chaur of Pokhara, Link Road of Birgunj and Hakim Chowk of Chitwan from August 1. <\/p>\n
Global IME has closed its Lahan Ghantaghar Chowk branch from August 1. It has also closed its Bijuwar branch in Pyuthan. Kumari Bank has closed six branches in Kathmandu with effect from August 17. <\/p>\n
Himalayan Bank has closed 9 branches from May to July 2083. Prabhu Bank has closed 12 branches since April 27, 2002. Out of these, 6 branches in Lalitpur, 2 in Kaski and 1 branch in Chitwan have been closed. <\/p>\n
Banks and financial institutions have started proposing to the landlords to reduce the amount of house rent, citing the reason for the contraction in the business. Banks and financial institutions are pressuring the landlords to renew the lease agreement by deducting the house rent by 15 to 40 percent depending on the turnover of the branch, the status of profit and the importance of the area where the branch office building is located.<\/p>\n","protected":false},"excerpt":{"rendered":"
Kathmandu. Commercial banks have been compelled to cut operating expenses due to the fall in income due to the contraction in credit flow. In order to reduce operating expenses, they have started taking decisions to close or merge branch offices along with cutting the cost of daily transactions and service delivery. Banks have started shutting […]<\/p>\n","protected":false},"author":5,"featured_media":226802,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[45117,45031,45159],"tags":[],"class_list":["post-314753","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-bank-finance-en","category-banner-news-en","category-news-en"],"acf":[],"_links":{"self":[{"href":"https:\/\/english.insurancekhabar.com\/ikbrapi\/wp\/v2\/posts\/314753","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/english.insurancekhabar.com\/ikbrapi\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/english.insurancekhabar.com\/ikbrapi\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/english.insurancekhabar.com\/ikbrapi\/wp\/v2\/users\/5"}],"replies":[{"embeddable":true,"href":"https:\/\/english.insurancekhabar.com\/ikbrapi\/wp\/v2\/comments?post=314753"}],"version-history":[{"count":1,"href":"https:\/\/english.insurancekhabar.com\/ikbrapi\/wp\/v2\/posts\/314753\/revisions"}],"predecessor-version":[{"id":314754,"href":"https:\/\/english.insurancekhabar.com\/ikbrapi\/wp\/v2\/posts\/314753\/revisions\/314754"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/english.insurancekhabar.com\/ikbrapi\/wp\/v2\/media\/226802"}],"wp:attachment":[{"href":"https:\/\/english.insurancekhabar.com\/ikbrapi\/wp\/v2\/media?parent=314753"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/english.insurancekhabar.com\/ikbrapi\/wp\/v2\/categories?post=314753"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/english.insurancekhabar.com\/ikbrapi\/wp\/v2\/tags?post=314753"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}