Prabhu Bank Limited has officially clarified its position regarding recent news reports published about the bank’s management, board members, and business operations, calling them completely baseless and one-sided.
Prabhu Bank Limited has expressed serious concern over recent news reports published in some media platforms about bank, its directors, and management. The bank has completely rejected these reports, claiming they are one-sided, exaggerated, and lack any truth.
Regular Banking Activities
In a press release issued on Monday, the bank clarified that transferring employees, adjusting job responsibilities, recovering loans, and publishing auction notices for collaterals are all regular and legal parts of banking business. Prabhu Bank says presenting these regular activities in a different way without any proof goes against the true spirit of journalism.
Ongoing Investigations and Management Rules
Regarding some past loan files, the bank mentioned that authorized government bodies are currently investigating them, and those cases are pending in court. Because of this, the bank is active in implementing necessary risk management, internal controls, and corrective steps according to regulatory rules and existing laws. The bank also mentioned to adopting even stronger systems in the future to make sure such mistakes do not happen again.
Furthermore, Prabhu Bank stated that all decisions made by its board of directors and management are strictly based on Nepal Rastra Bank directives, current laws, and regulatory standards. They promised to continue running the bank in same compliant manner in future.
A Request to Media and Customers
The bank has requested media houses to always verify facts with the concerned sides before publishing any news. Publishing reports based on guesses or unverified sources can create unnecessary confusion about the entire financial system. Prabhu Bank also requested depositors, borrowers, shareholders, and investors to only trust official notices and reliable sources for any news related to the bank.
AI Disclaimer: This article was originally published on https://bajarkochirfar.com. It has been translated with the help of AI. For the best understanding and accurate facts, we recommend reading the original Nepali version.
BANKING, Prabhu Bank, Nepal Rastra Bank, Loan Recovery, Staff Transfer, Media Clarification
