News & Updates

  • Statistics on Bank and Financial Institution as of May 2, 2014 (Baisakh 19, 2071)
  • Branch Penetration of BFIs till February 28, 2014 (Falgun 16, 2070)

        Total BFIS branch penetration till February 28, 2014 is 3358. Top 20 districts alone have total banking penetration (BFIs) of 70%. Top 10 districts alone have total banking penetration (BFIs) of 52%. Bottom 10 districts have just 1.15% banking penetration out of total 75 districts. Commercial Bank has reached to all 75 districts. […]

  • Commercial Bank’s Branch reaches to 1510 till December 15, 2013 i.e. Marga 30, 2070

    Total branches of “A” class Commercial Banks reached to 1510 till December 15, 2013. Commercial Bank’s higher concentration is inside Kathmandu valley contributing 31% of total branch penetration. Agriculture Development Bank has the largest branch networks of 232 including sub-branches whereas Global IME amongst private sector promoted bank has the largest branch network of 72 […]

  • Global IME Bank to merge with Commerz and Trust Bank

    Global IME and Commerz and Trust Bank would be the second “A” Class Bank to go into merger. Prior to this, NIC and Bank of Asia merged into one from 30th June 2013. The total number of commercial banks will be 30 after the merger process completes formally. Global IME bank had already integrated IME […]

  • The Insurance Board (IB) took over the management of Everest Insurance

    The Insurance Board has finally taken over the management of Everest Insurance Company dissolving incumbent board and suspending its Chief Executive Officer after a year long tussle with line authority. This is the first instance of taking over the management of any Insurance company by regulatory authority in the insurance history of Nepal. The Insurance […]

  • Government’s go-ahead for International FIs to issue Local Currency Bonds

    The government of Nepal has finally decided to allow International Financial Institutions to issue local currency bonds in order to raise funds from the domestic market to finance various development projects. International Financial Institutions having high credit rating from global credit rating agencies can apply to the Ministry of Finance adhering to 10-point guidelines set […]

  • Civil Bank to integrate Apex Development Bank and Civil Merchant Bittiya Sanstha

    Civil Bank a “A” class Commercial Bank signed MoU to integrate a “B” class Apex Development Bank and a “C” Class Civil Merchant Bittiya Sanstha dated 7th October 2013. After the merger, Civil Bank’s equity base will increase from Rs. 2 billion to Rs. 2.9 billion and Bank’s branch penetration will increase from 20 to […]

  • Central Bank directed BFIs to check Multiple Banking

    Central Bank of Nepal has directed Banks and Financial Institutions to check multiple banking under the heading of Overdraft, Working Capital, Cash Credit, Demand, Trust Receipt, Short-Term and Hypothecation loan. From now onwards BFIs has to declare loan exposures mandatorily before sanctioning fresh loan or renewing the existing credit line. The central bank further instructs […]

  • Notice of Inland Revenue Department on Rebate

    Notice of Inland Revenue Department on rebate

  • Prabhu Finance elevated to National Level Development Bank

    Sambridhi Bikash Bank Ltd and Bhaivab Finance Ltd merged into Prabhu Finance Ltd and became a national level development Bank in the name of Prabhu Bikash Bank Ltd from July 16, 2013. The bank has a capital base of 765.96 millions, deposit and credit base of 8 and 5.40 billion respectively. The bank has 45 […]