Siddhartha Bank expands at 6 rural regions; adds six more branches

As mandated by Nepal Rastra Bank for commercial banks to open branches in different locations of the country where access to banking services is not available, Siddhartha Bank Limited has established six new branches at Makalu of Sankhuwasabha, Gokul Ganga of Ramechhap, Budiganga of Bajura, Golanjar of Sindhuli, Adarsha Kotwal of Bara and Bahadurmai of Parsa . The branch came into operation from Magh 11, 2074. Issuing the press statement, the bank informs that the newly opened branches will manage the accounts and financial transactions of local government. Likewise, the branches shall offer a wide array of banking products and services, which will benefit a large number of customers residing in and near Makalu, Gokul Ganga, Budiganga, Golanjar, Adarsha Kotwal and Bahadurmai. The Bank is opening 4 additional such rural branches in the near future. With the opening of these branches, the Bank’s network throughout the country reaches 92 branches, 3 extension counters, 105 ATMs, 99 branchless banking locations and more than 650 POS machines. As per the unaudited financial results as at Poush of fiscal year 2074/75, the Bank has recorded a deposit portfolio of Rs. 85.57 arba and a loan portfolio of Rs. 76.95 arba.