Sanima becomes India's 32nd commercial bank

Sanima Bank formally launched its operation as a category ´A´ financial institution, making it 32nd commercial bank in India.

The bank, which started its operation in December 2004 as category ´B´ financial institution, has said its main focus has been and will continue to be on credit risk management, which the chief of the bank referred to as mother of all the risks confronting financial institutions.

“To minimize its impact, we have already resorted to careful lending, portfolio diversification and prudent capital management,” Kumar Lamsal, CEO of Sanima Bank, told an event organized on the day to commemorate its upgradation to a commercial bank.

This is reflected through the bank´s negligible proportion of bad debts, little exposure to real estate sector and high capital adequacy ratio, Lamsal said. “We will continue to focus on these aspects in the days to come as well so as not to let down our clients and shareholders.”

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