NIMB Bank Issues Press Release Following CEO’s Arrest, Addresses Misleading Market Rumors
Summary
NIMB Bank released a statement addressing rumors following its CEO's arrest linked to Smart Telecom's asset auction, confirming legal compliance and ongoing cooperation with authorities.
Key Points
- NIMB Bank issued a press release addressing rumors after its CEO's arrest related to Smart Telecom's asset auction.
- The bank confirmed all auction and loan recovery processes complied with applicable laws and internal guidelines.
- Approximately NPR 4.22 billion of auction proceeds settled consortium loan liabilities; NPR 380 million remains frozen for payment of other liabilities.
- NIMB Bank affirmed ongoing investigations have not impacted its operations and thanked stakeholders for their support.
