Kumari Bank Limited has opened the public issue of “11% KBL Debenture 2089” from today [September 2, 2022]. The debenture has opened on 17th Bhadra, and will closed on 21st Bhadra. If it will not subscribed fully, the deadline will be extended up to Bhadra 16, 2079.
A total of 30,00,000 units will be issued at a par value of Rs.1000 per unit for this debenture. A total of 18 lakh units of the total issue will be subscribed via private placement while the remaining 12 lakh units worth Rs. 1.2 Arba has opened for the public issue as well as 5% of which is also secured for mutual funds.
Siddhartha Capital is the issue manager of this debenture. Applicants can apply for a minimum of 25 units to a maximum of 12,00,000 units share in this issue.
The “11% KBL Debenture 2089” has a maturity period of 10 years and will yield an annual return of 11% during the period during its period.
Kumari Bank Limited, came into existence as the fifteenth commercial bank of Nepal, starting its banking operations from Chaitra 21, 2057 B.S (April 03, 2001) with an objective of providing competitive modern banking services in the Nepalese financial market. The Bank has paid up capital of NPR 14.87 billion.
Kumari Bank Limited provides a wide-range of modern banking services through 246 points of representation located in various urban, semi-urban and rural parts of the country, with 197 branches, 24 extension counters and 49 Branchless Banking Units.
The Bank has pioneered in providing modern banking services like Internet Banking and Mobile Banking. With the implementation of Core Banking Software, FINACLE (version 10), the Bank is confident that it will provide a robust, ultra-modern banking platform for all customers throughout the country. The Bank has been offering both Domestic and International Visa Debit and Credit Card, accessible in all VISA linked ATMs in Nepal and India. It serves through 194 ATMs and – POS terminals across the country. Along with this, the Bank offers latest digital banking services such as Mobile, Internet, and Viber Banking and QR payments.The Bank is recognized as an innovative and fast-growing institution that always strives towards customer satisfaction. It has transparent business practices, professional management, corporate governance, and Total Quality Management as the organizational mission.