Prabhu Bank’s Chief Executive Officer (CEO) Ashok Sherchan has tendered his resignation, which he submitted during a board meeting held on Monday. According to the bank, Sherchan resigned to assist law enforcement in an ongoing investigation concerning transactions linked to former chairman Deviprasad Bhattchan and his partner Kusum Lama.
Following his resignation, Sherchan addressed the bank’s board and management, urging employees to maintain high morale and continue working responsibly despite the challenging circumstances. He also called on all staff to perform their duties with unity, patience, and confidence, assuring that his support for the institution would continue even after stepping down.
Sherchan had previously led the merger of Century Commercial Bank into Prabhu Bank in Magh 2079 B.S. During his tenure, other troubled banks, including Kist Bank and Grand Bank, were also consolidated under Prabhu Bank. The bank noted that under his leadership, there was a significant improvement in the recovery of non-performing loans, strengthening the institution’s financial stability.
This article was originally published on https://bajarkochirfar.com. Translated with the help of AI and reviewed by our editorial team.
