Nepal Bank makes it to 86th anniversary with its days of thick and thins; becomes a bank of Rs 14 Arba from just Rs 8 lakh in 1994

Nepal Bank, the first bank of the nation, completed 86 glorious years of its operation on Kartik 30, 2079. The bank is credited to establish the use of Nepalese currency in the nation where Indian currency was the predominant one.

The bank was first established under the special initiation from the late King Tribhuvan on Kartik 30, 1994 and even served as the central bank of the nation until 2013. The starting paid-up capital of the bank was Rs 8.42 lakh with ten shareholders and was established under the public-private partnership model. The bank had initial deposits of Rs 17 lakh and loans of Rs 19 lakh.

As a responsible public institution, the bank has also been contributing to the social development of the nation through its various CSR initiatives. Meanwhile, the bank has learned lessons from its tumultuous past and has made a 360-degree revision to its policies thereby adopting modern technology, banking practices and human resources thus standing as one of the major players in the banking sector in the nation.

The bank currently has 226 branches, 199 ATM outlets and 50 branchless banking units under its network. By the end of the previous fiscal year, the bank has Rs 1.96 kharba, loans of Rs 1.78 kharba, has paid up capital of Rs 14.40 Arba, and a reserve of Rs 21.68 arba.

The bank has passed through a lot of thick and thin days throughout these 86 years for which the bank has expressed its deepest gratitude to all its shareholders, clients, Nepal government and the general public who always stood beside it despite those tumultuous phases, as per the statement from the bank.