NMB Bank Nepal is a
commercial bank
A commercial bank is a financial institution which accepts deposits from the public and gives loans for the purposes of consumption and investment to make profit.
It can also refer to a bank, or a division of a large bank, which deals with cor ...
in
Nepal
Nepal (; ne, नेपाल ), formerly the Federal Democratic Republic of Nepal ( ne,
सङ्घीय लोकतान्त्रिक गणतन्त्र नेपाल ), is a landlocked country in South Asia. It is mai ...
with headquarters in
Kathmandu
, pushpin_map = Nepal Bagmati Province#Nepal#Asia
, coordinates =
, subdivision_type = Country
, subdivision_name =
, subdivision_type1 = Province
, subdivision_name1 = Bagmati Prov ...
. The bank is licensed by
central bank
A central bank, reserve bank, or monetary authority is an institution that manages the currency and monetary policy of a country or monetary union,
and oversees their commercial banking system. In contrast to a commercial bank, a central ba ...
of Nepal, the
Nepal Rastra Bank
The Nepal Rastra Bank (NRB) ( ne, नेपाल राष्ट्र बैंक) was established April 26, 1956 A.D. ( Nepali Date: Baisakh 14, 2013 B.S.) under the Nepal Rastra Bank Act, 1955, to discharge the central banking responsibili ...
, and has 202 branches across the nation providing
retail
Retail is the sale of goods and services to consumers, in contrast to wholesaling, which is sale to business or institutional customers. A retailer purchases goods in large quantities from manufacturers, directly or through a wholesaler, and t ...
and commercial banking services.
The bank's shares are publicly traded on the Nepal Stock Exchange. The Bank has a joint venture agreement with
Netherlands Development Finance Company
FMO ( nl, Nederlandse Financierings-Maatschappij voor Ontwikkelingslanden N.V.) is a Dutch development bank structured as a bilateral private-sector international financial institution based in the Hague, the Netherlands. FMO manages funds for th ...
(FMO) a Dutch
development bank which holds 13.69% of the bank's shares and is the largest shareholder of the Bank.
History
It was founded in May 2008 and is licensed as an "A" class financial institution. It was created as a merger with four financial institutions, Bhrikuti Development Bank, Pathibhara Bikas Bank, Prudential Finance Company, Clean Energy Development.
In September 2016, the bank signed a joint venture agreement with the Netherlands Development Finance Company (Nederlandse Financierings-Maatschappij voor Ontwikkelingslanden, following which FMO became the single largest shareholder of the bank.
NMB Bank has been recognized as 'Bank of the Year in Nepal' for two consecutive years, 2017 and 2018 by
The Banker
''The Banker'' is an English-language monthly international financial affairs publication owned by ''The Financial Times'' Ltd. and edited in London, United Kingdom. The magazine was first published in January 1926 through founding Editor, Brend ...
, a service of the
Financial Times
The ''Financial Times'' (''FT'') is a British daily newspaper printed in broadsheet and published digitally that focuses on business and economic current affairs. Based in London, England, the paper is owned by a Japanese holding company, Nik ...
, for its leading role in the country’s financial sector by using new digital technologies.
In September 2019 NMB Bank has acquired Om Development Bank.
See also
*
List of banks in Nepal This is a list of banks and financial institutions in Nepal licensed by the Nepal Rastra Bank.
Class A: Commercial banks
Commercial banks are rated as Class "A" banks by the Nepal Rastra Bank. There are 21 commercial banks as of 24 February 2023. ...
References
Banks of Nepal
2008 establishments in Nepal
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