Deprosc Development Bank (DD Bank) is
a microfinance bank working in the central and western region
of Nepal. The bank has been promoted by DEPROSC Nepal (an
NGO active in microfinance business). The other promoters
are Agriculture Development Bank, Nepal Bank (the first
commercial bank in Nepal), NABIL Bank (a joint venture commercial
bank), Lumbini Finance and Leasing Company , CEAPRED (an
NGO) and former bankers having 15-20 years experience.
The bank has been established to provide a competent and
sustainable microfinance services to poorest of the poor,
poor and non-poor vulnerable group. Access to financial
services helps the rural people escape from poverty. Credit
would create employment and generate disposable income which
could will them to have better access of FOOD, SHELTER,
CLOTHING, HEALTH and EDUCATION. The bank is also working
for the growth of microfinance industry in Nepal.[Read
more…]
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The bank was registered on January
2001 under Company Registration Act 1997 (now Bank and Financial
Ordinance, 2005) and Nepal Rastra Bank provided operating
license on July 3, 2001 under Development Bank. Act,1996.
The bank has authorized capital amounting Rs. 23.2 million
and paid up Rs. 11.6 million. However, paid up and bank
reserves (as of Mid July 2005) is Rs. 22.7 million. |
Deprosc Development Bank has been established
to provide microfinance services, which is adaptable at
local situation, cost effective, financially viable and
sustainable. The financial services to poor could create
employment to generate disposable income, for making expenditure
on basic food, health, education, shelter and clothing to
escape from poverty. |
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