Kathmandu: The Agricultural Development Bank Ltd. (ADBL) has issued a press release refuting misleading and exaggerated reports in the media regarding loan defaults and collateral auctions at its Lahan branch. The bank clarified that the published news contained misinformation, creating confusion among the public and stakeholders.

According to ADBL, its Lahan branch had issued loans following standard procedures and regulations, with borrowers duly informed about repayment obligations. The bank emphasized that it had taken all necessary legal steps before proceeding with loan recovery actions. The collateral auction notices were published in line with regulatory guidelines, and affected borrowers were given ample time to clear their dues.

The bank also assured that it operates with full transparency and in compliance with banking norms, dismissing allegations of misconduct or irregularities in loan recovery. ADBL reaffirmed its commitment to responsible banking practices and urged media outlets to verify facts before disseminating information that could harm public confidence in financial institutions.

Additionally, the bank has called on customers and stakeholders to rely on official communications for accurate updates regarding financial matters. It reiterated its dedication to providing uninterrupted financial services while maintaining regulatory compliance.