COMMERCIAL BANKS REPORT REDUCED Q1 PROFIT

BANKS REPORT REDUCED EARNING IN Q1 OF
CURRENT FISCAL YEAR 2011/12

Kathmandu, 18 Nov.: Banks report reduced profits in Q1 of the
current fiscal year 2011/12.
Q1 profits of Citizens Bank fell to Rs.52.745 million in the quarter 17 October compared to a profit of Rs.59.123 million the same quarter the previous year.
Q1 profit of Prime Bank Prime Bank Ltd in the same period fell
to Rs. 57.294 million from Rs.85.240 million in the same period
the previous year.
‘Capital market is in red and the slump in the real estate, which
Has investment of over Rs 215 billion, has posed threat to
overall banking sector,” Finance Secretary Krishna Hari Banskota said.
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GROUPINGS OF ACC T20 REVISED

Kathmandu, 18 Nov.: The Asian Cricket Council (ACC) on Thursday revised the groupings and fixtures for the ACC Twenty20 Cup to be held in Kathmandu in December, Republica reports.

After the revision, Nepal is now pitted in Group B along with Hong Kong, the United Arab Emirates, Kuwait and Saudi Arabia. Group A consists of Afghanistan, Malaysia, Bhutan, Oman and the Maldives.

In the earlier draw, which according to ACC was mistakenly published, Malaysia and Bhutan were in Nepal´s group while Hong Kong and Kuwait were in Group A.

According to ACC, the earlier groupings and fixtures were not based on the rankings of the ACC Trophy Elite 2010.

Afghanistan had won the Trophy Elite defeating Nepal in the final, whereas Hong Kong had finished third defeating Malaysia in the third-place playoff.

The tournament is part of the qualifying process for ICC World Twenty20 Cup 2012.

The top three teams from this competition will join Afghanistan, Canada, Ireland, Kenya, the Netherlands and Scotland in the 16-team ICC World Twenty20 Qualifiers to be played in the UAE in March 2012. The finalists of the UAE event will qualify for the World Cup Twenty20.

Nepal will play Hong Kong in the inaugural match of the ACC Twenty20 Cup at the TU Cricket Ground on December 3.

ACC Twenty20 Cup 2011

Group A: Afghanistan, Oman, Malaysia, Bhutan and Maldives
Group B: Hong Kong, UAE, Kuwait, Saudi Arabia, Nepal
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