12 commercial banks sustain Rs 724 million worth damages in recent Bhotekoshi flood

Kathmandu / Sept 12: A total 12 banks sustained damages worth Rs 724 million during the August 26 Bhotekoshi-Trishuli floods in Rasuwa.

According to the Rapid Damage and Needs Assessment (RDNA) report prepared by the National Planning Commission and the National Disaster Risk Reduction and Management Authority, 17 branches of a dozen commercial banks were devastated by the floods.

Agricultural Development Bank sustained the heaviest losses, with one branch suffering damage worth Rs 650 million. Likewise, one branch of Citizens Bank incurred losses of Rs 15.6 million.

Global IME Bank has its one branch suffer losses of Rs 1.1 million as Himalayan Bank incurred losses of Rs 7.5 million. Laxmi Sunrise Bank, Machhapuchchhre Bank and Nabil Bank had damages to one branch each sustaining financial loss of Rs 11.2 million, Rs 7.5 million and Rs 6.3 million, respectively.

Three branches of NIC Asia Bank suffered losses totaling Rs 8.8 million as three branches of Nepal Investment Mega Bank had losses of Rs 4 million.

Similarly, one branch each of NMB Bank and Sanima Bank suffered losses of Rs 400,000 and Rs 6.3 million, respectively. Two branches of Prabhu Bank incurred losses of Rs 5.3 million.

The banks have reported their flood-affected branches in operation in Bidur Municipality of Nuwakot, Gosaikunda Rural Municipality, Kalika Rural Municipality and Uttargaya Rural Municipality of Rasuwa.