Nepal Bank Limited ( ne, नेपाल बैंक लिमिटेड) is the first

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 co ...

Nepal Nepal (; ne, :ne:नेपाल, नेपाल ), formerly the Federal Democratic Republic of Nepal ( ne, सङ्घीय लोकतान्त्रिक गणतन्त्र नेपाल ), is a landlocked country in S ...

. It was established in 1937, by Juddha Shumsher, which marked the beginning of an era of formal banking in

History

On November 15, 1937 (Kartik 30, 1994), the then King Tribhuvan inaugurated Nepal Bank Limited. This marked the beginning of an era of formal banking in Nepal. Until then all monetary transactions were carried out by private dealers and trading center. In that era, very few understood or had confidence in this new concept of formal banking. Rising equity shares were not easy and mobilization of deposits even more difficult. This was evident when the bank floated equity shares worth

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2,500,000, but was successful only in raising NPR 842,000. The total deposits for the first year was NPR 17,02,025 where current deposits was about NPR 12,98,898 fixed was about NPR 3,88,964 and saving was NPR 14,163. Loan disbursed and outstanding at the end of the first year was NPR 1,985,000. In 2007, Nepal Bank Limited appointed Mr Rohit Ghambole as chief banker. From the very conception and its creation, NBL was as joint venture between the government and the private sector. Out of 2500 equity shares of NPR 100 face value, 60% was subscribed by the government and the balanced 40% was offered for the sale to private sector. There were only 10 shareholders when the bank first started.http://www.nepalbank.com.np/bankoverview/history.php
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Introduction

When NBL was established, it was formed under the principle of Joint venture (Joint venture between Government and general public). NBL's authorized capital was NPR 10 million & issued capital NPR 2.5 million of which paid-up capital was NPR 842,000 with 10 shareholders. The bank has been providing banking through its branch offices in the different geographical locations of the country.

Services

Nepal Bank Limited is providing services to its customers from its 217 branches. It provides deposit facility, various loan facilities, advanced ABBS services from 162 branches,

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along with the ATM facilities through 144 ATM terminals all over the country.

External links

Official website of Nepal Bank Limited.

References

{{authority control Banks of Nepal Banks established in 1937 Government-owned companies of Nepal 1937 establishments in Nepal