Hiking Salary of Sunrise Bank CEO despite its slumping Profit

Kathmandu, Dec 28 . Sunrise has barely managed to generate the net profit of just 382.9 million during the three months in the current fiscal year. The amount is 15.71 percent lesser in comparison to the previous year of the same period. Bank has had 454.3 million net profit in the same duration of the last year.

The bank has been already suffering with Rs. 249.6 million arrears of the first three months. In spite of that, it has increased the salary of its CEO Janak Sharma Paudel. He has handsomely added Rs. 700 thousand in his salary to sum up Rs. 13.5 million in his payouts just few months after he was assigned following his commitments to the Board of Directors, to improve the bank.

Ratna Raj Bajrachary had received only Rs.12.7 million payouts at his tenure last year. Despite the fact that Bank had earned Rs. 454.3 million net profit during his time.

The top level management team said to have not been convenient to teaming under the CEO. Consequently, the top level management team rapidly leaving the bank.