Kathmandu – Santosh Koirala has been elected unopposed as the president of the Nepal Bankers’ Association (NBA). Koirala, the CEO of Machhapuchhre Bank, became the sole candidate for the position for the upcoming term.

On Tuesday, Ashok Sherchan, the CEO of Prabhu Bank and Koirala’s competitor for the post, withdrew his candidacy, paving the way for Koirala’s unopposed election.

Last week, both Sherchan and Koirala had filed nominations for the presidency of NBA, an organization representing the chief executive officers of commercial banks.

Meanwhile, Surendra Regmi, the CEO of Global IME Bank, has been selected as the vice president of the association.