Kathmandu. KATHMANDU: Jalaj Adhikari has been appointed as the Chief Executive Officer (CEO) of Guheshwori Merchant Banking and Finance Limited.
Prior to this, Adhikari was working as Assistant CEO of Mahalaxmi Bikas Bank. Incidentally, Guheshwori Merchant has got the second CEO from Mahalaxmi Bikas Bank. Rajesh Kumar Shrestha, who was appointed on January 14, 2020 for a four-year term, had joined the management of Guheshwari Merchant from Mahalaxmi Bikas Bank (then Mahalaxmi Finance) and Asian Life.
Guheshwori Merchant Banking and Finance is under financial pressure due to the rise in bad loans. Due to the poor condition of the balance sheet, it has been in the financial year 2079 for three consecutive years. 80, 2080. 81 and 2081. It has not been able to distribute dividends to 82 shareholders. The newly appointed CEO Adhikari has the challenge of recovering bad loans, regulating current loans and improving the financial condition of the organization to make the shareholders capable of distributing profits.
Two CEOs could not complete tenure:
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After the exit of Dinesh Lal Shrestha after serving as the Chief Executive Officer for almost three terms, two Chief Executive Officers (CEOs) have left before the completion of their tenure. Former CEO of Asian Life Insurance Company Rajesh Kumar Shrestha has been appointed as the CEO of Guheshwori after Dinesh Lal resigned from the post to be the CEO of Asian Life Insurance. He was appointed for a four-year term and resigned from the post effective from October 7, 2080.
After the exit of Rajesh Kumar Shrestha, former Chief Executive Officer of Best Finance Toyaraj Adhikari has been appointed as the CEO of Guheshwari. He resigned from his post on January 1 saying that he TAG_CLOSE_em_11 would file candidacy for the House of Representatives election. Although his resignation was accepted by the board of directors on January 2, he has not filed his candidacy for the House of Representatives.
Newly appointed CEO Jalaj Adhikari has more than two decades of experience in financial institutions and development banks. His professional journey started as a branch manager of Mahalaxmi Finance Limited. Since then, he has been working in various positions and responsibilities until Mahalaxmi Finance merged with other financial institutions and transformed into Mahalaxmi Bikas Bank.
