Sunrise Bank receives USD 1.86 million loan

NL Today

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Kathmandu: Sunrise Bank has received a foreign loan of Rs 2.37 billion (USD 1.86 million) for three years from Symbiotics SA Geneva, Switzerland with the approval of Nepal Rastra Bank.

The bank in a statement said that the amount will be used to extend loans to micro and small and medium enterprises. The bank believes that the loan amount will help to strengthen the liquidity of the bank to some extent.

According to the bank, Symbiotics SA provided the loan considering the financial index of the bank, the existing style, and method of doing business in the bank, transparency as well as the existing economic index of the country.