The fiscal year 2009/10 will be remembered for, besides the liquidity crunch and note shortage, the aggressive way banks have expanded their branch networks. Their branch opening spree has continued till the last days of the fiscal year with Kumari Bank, Nabil Bank, Bank of Kathmandu and Lumbini Bank throwing open the doors of their new branches across the country.

On Monday, Kumari Bank launched six branches in western Nepal at one go. It has set up outlets in Kawaswoti, Tulsipur, Nepalgunj, Salyan, Surkhet and Dhangadhi. With these new branches in western Nepal, the number of Kumari Bank's branches across the nation has reached 27. The bank has also launched Kumari Big Savings account which offers 10 percent interest per annum.

Lumbini Bank was not far behind. It also added six new branches this week at Indra Chowk, Suryabinayak, Mangal Bazaar, Gwarko, Bardaghat, Damauli, Parasi and Naya Baneshwor.

Likewise, Prime Commercial Bank opened a branch in Panauti, Kavrepalanchok. Director Uday Mohan Shrestha inaugurated the new outlet amid a function. With the establishment of the Panauti branch, the number of Prime Bank's branches has reached 17.

NIC Bank also opened its 26th branch at Pepsi Cola Chowk, Sinamangal in Kathmandu.

source: Kathmandu Post (2010),"Banks on branch opening spree",The Kathmandu Post, 15 July 2010