KATHMANDU: Dinesh Thakali has been unanimously elected as the President of Development Bankers Association Nepal (DBAN).

The 21st annual general meeting of the association unanimously elected a nine-member working committee under the leadership of Thakali for the next two years.

The newly elected Chairman Thakali is an experienced Chartered Accountant and Banker. He is known for his leadership role in the banking sector and is experienced in the field of financial performance, institutional reforms, digital transformation, risk management and good governance.

Similarly, Madhav Prasad Upadhyaya, CEO of Garima Bikas Bank, Kapil Dhakal, Jyoti Bikas Bank and Dipesh Lamsal, CEO of Mahalaxmi Bikas Bank have been elected as the Vice-chairperson, Secretary and Treasurer.

Similarly, the members of the committee have been selected as CEO of Muktinath Bikas Bank Tara Manandhar, CEO of Lumbini Bikas Bank Suman Acharya, CEO of Shangrila Development Bank Rabin Sijapati, CEO of Green Development Bank Hari Bahadur Budhathoki and Ananta Kumar Chapagain CEO of Miteri Development Bank.

The meeting discussed and approved the financial statements including the annual report for the fiscal year 2082/83, the balance sheet, profit and loss accounts and cash flow statement for the same period. In addition, the proposal regarding the appointment of an auditor for the financial year 2083/84 and his remuneration determination was also approved.

Newly elected Chairman Dinesh Thakali pledged to move ahead effectively on the contemporary issues of the banking sector.

He stressed on good governance, risk management, capacity building of technology and human resources, digital transformation, improving credit quality and recovery, and exchange of best practices among member banks.

At present, there are 17 development banks operating in Nepal, out of which 8 are at the national level and 9 at the regional level. As of Ashad 2081, the development banks are providing banking services to about 8 million customers through 1,112 branches and 336 ATMs.