Nepal Bank Limited
P.O.Box: 36, Kathmandu
SWIFT Code: NEBLNPKA
Nepal Bank limited (NBL) is the first Bank of Nepal, established in November 15, 1937. It is also the commercial Bank that initiates formal banking in Nepal. In that early era of formal banking in Nepal, NBL had authorized capital of NRs. 2.5 million of which raising equity of only Rs. 842, 000. NBL was established as a joint venture between Nepal government and Private sector. Out of 2500 equity shares of the Bank in 100 face values, Nepal government held 40% share and rest was by 10 share holders. At present NBL, is under management of “Nepal Rastriya Bank”, the central bank of the country.
Nepal Bank Limited was established as a result of need call from the governmental side. In lack of proper financial institution, development and economic progress of the country was being affected. The oldest Bank of Nepal, NBL has crossed milestone of 75 years in November 15, 2011. The Bank has been providing a boost to the economic operation of the country. Today, there are more than 31 commercial bank in the country and numerous financial institutions but NBL still is in the same run along with private sector though had suffered from debt in the past.
NBL had largely suffered from unpaid loan and bad management in the past. As a rescue plan, NBL went under the much anticipated reform program under foreign management team, The ICC group of Scotland. However the situation of the Bank was not improved much and the Bank was given to direct supervision of Central Bank of the country.
Despite the fact that NBL is still dealing with the debt crisis of net worth Rs. 4.6 billion, it has the assets value of Rs. 10 billion, highest than any other existing other banks in Nepal. The central Bank is preparing to launch the “recapitalization process” in NRB in near future so that the NBL paid-up capital level up with the other commercial banks. NBL reformation process will reach the logical conclusion within next two years, said the central bank official. After the reformation process, NBL will be as accomplished as other commercial Bank in the market.
NBL after decade long loss and unmanaged governing system had managed to gear up in the last few years. The Bank has launched various saving and deposit scheme and many other banking facilities to attract the customer. Altogether NBL have 109 operating branch distributed over 55 district of Nepal.
With the initiation of transformation, NBL is boosting up with the new management committee which was organized to appoint new CEO for NBL. After the automation process and recapitalization NBL can stand along with the other players in the ground. However, NBL also need to assimilate required changes, expand service horizon, adopt modern banking techniques and strategies, and develop its human resource to rise as a transformed Bank.
Without a doubt, NBL have the leadership role in Nepal Banking history and to regain the same legacy, NBL should speed up in its reformation process. Once it undergoes needy changes, NBL can accomplish its vision of “being the number one financial institution of the country”.