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About Mount Makalu Development Bank ltd

 

Mount Makalu Development Bank Ltd lies at Basantapur VDC of Terhathum District. Basantapur is small town which is located at the boarder of Terhathum, Dhankuta and Sankhuwasava district and indentified as a tourism and commercial area of eastern development hill region. To fulfill the financial needs of this place, By understanding the financial market and to collect unproductive saving of common people, some of intellectuals, merchants, socialists and common people decided to establish Mount Makalu Development Bank Ltd. The Bank was registered in Company Registered Office on 2066 Mangsir 19th as a Public Limited Company with limited liability on shares. Similarly it received permission from Nepal Rastra Bank to conduct financial transaction on 2067 Ashad 30th with financial institution of "B" Class (One District) with its activities in Terhathum district. The bank has started its financial transaction on 2067 Shrawan 5th from head office at Basantapur, Terhathum. 
 
The Authorized Share Capital of the bank has NRs. 40,000,000.00 (Four Crores) divided into 400,000.00 shares of NRs. 100.00 each. Issued and Paid up Capital of the company is NRs. 20,000,000.00 and 14,000,000.00 respectively. Promoter of the company holds 70 % Share of the company. And remaining portion i.e. 30% share to the public.