Top List of Banks in Nepal
Nepal is one of the poorest countries in the world. The per capita income is only US$858, and the percentage of people living below the poverty line is 42.6%. Banking services are provided by Nepal Rastra Bank, which regulates and supervises commercial banks.
Many factors can determine which Bank is the best in Nepal. But, the best way to choose a bank is to consider your preferences, needs and requirements. To help you in this process, we have compiled a list of some of the best banks in Nepal. The following is a list of the best banks in Nepal:
Nepal SBI Bank Limited
Nepal SBI Bank Limited is a Nepalese bank and financial services company headquartered in Kathmandu, Nepal. The Bank provides remittance services for individuals and corporates through correspondent banking arrangements with leading overseas banks. The clients are also provided with customized trade products like Letter of Credit (L.C.) and Guarantees, among others. The Bank also offers internet banking services that provide secure access to all the accounts held. It commenced operations in July 1988. The Bank has over 118 branches and more than 1,029 employees. Its total assets were also estimated to be $1,23 million as 2021.
Everest Bank Limited is one of the commercial banks in Nepal. The Bank was established in 1994 under the Bank and Financial Institutions Act, 2051, with the initiative of Nepalese entrepreneurs to extend banking services to the doorsteps of the general public. It is one of the fastest-growing banks in Nepal. The Bank has 110 branches and eight extension counters across various locations in Nepal. EBL provides commercial banking services such as deposits, loans, remittances, foreign exchange services, credit cards and locker facilities to customers. The company had Total Assets amounting to 185,018,806 million as of 2020, and it also had 893 total employees across all of its locations.
Nabil Bank Limited
Nabil Bank Limited is Nepal's first foreign joint venture bank, incorporated in July 1984 by a group of like-minded local entrepreneurs with technical assistance from Arab Bank Limited, Jordan. The Bank has a nationwide network of 135 branches across the country with total assets of Rs.194 billion (as of Q4 2075/76) and 889 employees. Nabil Bank offers a wide range of banking products and services, including consumer banking, corporate banking, investment banking, money markets, foreign exchange services and treasury trading. Nabil is also involved in merchant banking activities and stockbroking services.
Prabhu Bank Limited
Prabhu Bank Limited is a commercial bank in Nepal. It was formed by the merger of two banks, Prabhu Bank and Nepal SBI Bank, in January 2018. Before that, it was a subsidiary of the State Bank of India, an Indian government-owned corporation. The Bank has 208 branches, out of which 202 are located inside Nepal, and seven are located overseas. The Bank has total assets of N.R.s. One hundred sixty-seven billion as of July 16, 2020. Its net profits are N.R.s. 2.3 billion (F.Y. 2019/20). The Bank focuses on providing customer-centric banking solutions through its vast branches and ATMs located across various business hubs and financial centres. It also offers online banking services through its mobile application, internet banking platform and SMS services. The Bank was also estimated to have had a total of 203 employees.
Sanima Bank Limited is a commercial bank in Nepal with headquarters in Kathmandu. It was established in 2006 under Nepal's Bank and Financial Institution Act, 2063. The Bank has 96 branches, and It's one of the top five banks in Nepal by profits, deposits, assets, loans and capital. It's also one of the top three banks that holds the highest foreign currency reserve. Sanima Bank provides a range of products and services to its customers, including personal banking, corporate banking, SME banking and institutional banking. As of 2021, the Bank had a total assets net worth $1,444 million and 195 employees.
Nepal Investment Bank Limited
Nepal Investment Bank Limited was founded in 1986 and is based in Kathmandu, Nepal. The Bank has over 2000 total employees across its branches, and as of 2021, its total assets were estimated to be $1,894 million. Nepal Investment Bank Limited (NIB) is a commercial bank in Nepal. The Bank provides corporate and retail banking services, including loans and deposit accounts, insurance, money transfer, and investment banking services.
Nepal Investment Bank Limited (NIBL), a premier commercial bank duly licensed by the Central Bank of Nepal, commenced its full-fledged operation in 1986. The Bank has an extensive network of 86 branches with two extension counters, two branchless banking units, 1 SME Development Center, and 2 Microfinance branches spread all over the country.
Rastriya Banijya Bank
Banijya Bank Limited (RBB) is a commercial bank in Nepal. It was established on 13th Falgun, 2037 B.S. (February 28 1981). The Bank provides financial services to customers, including savings and current accounts, fixed deposits, remittances, loan products, credit card facilities and lockers. It is the oldest and largest nationalized commercial Bank of Nepal, with 263 branches and 12 extension counters. As of 2020, it had 1,001 to 5,000 employees. As of 2020, the Bank had total assets of 238,942,204,548 of 2020, with loans and advances of NPR 137.59 billion.
Global IME Bank
Global IME Bank began its operations in February 2008 in a rented building with nine branches. Global IME Bank Limited is a banking and financial service provider headquartered in New Road, Kathmandu, Nepal, with 229 branchless banking services as of 2019. The Bank has a vast network of branches and ATMs all over Nepal. As per the annual report published by the Bank, it had total assets worth Rs 147.76 billion, including loans worth Rs 106 billion with deposits worth Rs 105 billion as of 4th quarter 2076/77 G.S. The Bank has 19 employees (excluding executives).
Global IME Bank is one of the leading commercial banks in Nepal. Global IME Bank has provided innovative financial services, and technology solutions to customers, serving more than six lakhs satisfied customers through a wide range of products such as Savings Accounts, Current Accounts, Fixed deposits, Recurring deposits, Call Deposit, Loan accounts.
Standard Chartered Bank Nepal
Standard Chartered Bank Nepal is a commercial bank in Nepal, with headquarters on the outskirts of Kathmandu, in Kamalpokhari. It is a subsidiary of Standard Chartered Bank and has 15 branches within the country. It was established in 1987 as Nepal Standard Chartered Bank Limited after the Standard Chartered Bank acquired Grindlays Bank. As of 2017, it had 85,000 employees and total assets worth 118,785.24 (Rs. Crore).
The Bank serves clients through four global businesses: Consumer Banking, Wholesale Banking, Treasury Services and Private Banking. Each has been built around our customers and their needs, combining market knowledge with international expertise to bring them world-class products and services.
Mega Bank Nepal Ltd
The Bank was inaugurated on October 18 2002, by Gyanendra, then King of Nepal. Mega Bank Nepal Ltd is a Commercial bank headquartered in Kathmandu, Nepal. Mega Bank's total assets stood at Rs 1$1,514 million as of 2021, with a total of 58 service employees across its 203 branches. Mega Bank has provided banking services through its branches located across the country. The Bank has also launched several products, including corporate internet banking and mobile banking.
Q. Which Bank is best in Nepal 2021?
A. Nepal Investment Bank Ltd. is the top Bank in Nepal, according to the survey conducted by CEIC and The CEO Magazine.