Top 10 Banks in Nepal {Latest}

A commercial bank is a financial institution that performs the functions of accepting deposits from the public and lending investments with the purpose of earning profits. It may also refer to a bank, or a division of a large bank, involving corporations or large/medium enterprises . to distinguish it from retail banking and investment banking. The first commercial bank in Nepal was established in 1937 and the country started the official financial system. Since then, the country has 28 commercial banks as of the data provided by Nepal Rastra Bank, the central bank of Nepal. Here is the list of all the commercial Class ‘A’ banks in Nepal. Please let us know if we have missed any bank.

 

1.Nepal Bank Ltd: Founded in 1937.

2.MEGA bank Nepal: Founded in 2010.

3.Standard Chartered Bank Nepal: Founded in 1987.

4.NIBL: Founded in 1986.

5.Nepal SBI Bank Limited: Founded in 1992.

6.Nabil Bank: Founded in 1984.

7.Everest Bank: Founded in 1994.

8.Sanima Bank: Founded in 2004.

9.Global IME Bank: Founded in 2007.

10.Prabhu Bank: Founded in 2006.

     Nepal Bank Ltd: The first on this list is also the first big commercial bank of Nepal. Nepal Bank Ltd was founded in 1937 by A.D. and is a government-owned bank. Its head office is in Dharmapath, Kathmandu. It has a total of 178 branches across the nation which supply services regarding loan and deposits, ATM, and online banking facilities. Out of these, all 178 branches control digitally and consist of a total of 2245 staff members. [Data as of Feb 2020] Most importantly, the bank provides an Annual Interest Rate of 4% on normal savings and has several special savings deposit schemes.

     MEGA bank Nepal: The MEGA bank is quite young as compared to other banks in Nepal. The bank received its controlling license from Nepal Rastra Bank on Shrawan 4, 2067. It is the small commercial bank to bag a Bank of the Year in Nepal in just 9 years of its duties. At present, the bank has 111 branches, 29 extension counters, and 114 ATMs amount throughout the country. Moreover, the interest rate MEGA bank provides is 5 – 6.5% on several saving deposits.

     Standard Chartered Bank Nepal: Standard Chartered Bank Nepal is one of the best prestigious banks in Nepal. It was founded in 1987 and is actually a subsidiary of Standard Chartered PLC. The head office of the bank is in London, England. It is one of the pioneers of digitalized technological services such as credit cards and ATMs in the country. Today, the ATMs of this bank receive international cards which is a huge relief for foreigners visiting Nepal.

     NIBL: NIBL was founded in 1986 as a joint venture between Nepalese and French companies. However, the Nepalese capitalist brought all the shares from the French company in 2001. With the international level of banking, it is one of the most dependable financial institutions of Nepal. The bank comprises of 82 branches, 16 extension counters, and 10 revenue collection counters. The profit rate on saving accounts in NIBL ranges from 0.15 – 5.50% per annum.

     Nepal SBI Bank Limited: Nepal SBI Bank Limited is next on the list and is the subordinate of State Bank of India. It was founded in the year 1992 and today has become one of the major banks in Nepal. The bank has a total of 116 egresses throughout Nepal which include 88 full-fledged branches and 19 extension counters. Similarly, it supplies electronic transactions through 118 ATMs around the country (including 2 Mobile ATMs and 4 CRMs). The profit rate that Nepal SBI Bank provides on saving deposits ranges from 2 – 5% per annum.

     Nabil Bank: The first foreign link venture bank in Nepal, Nabil Bank, was founded in 1984. The first private section bank in Nepal has branches throughout the nation with the head office at Durbarmarg, Kathmandu. Moreover, it was one of the crown banks in Nepal in 2019. The bank promises to visit customer-focused and go “Together Ahead” to supply professional and result-oriented service. In fact, Nabil Bank supplies modern banking solutions through its 93 points of representation. It has 175 ATMs and 112 branches all around Nepal. Some saving deposit schemes of Nabil bank supply a profit rate from 3.25 – 5.25% p.a.

     Everest Bank: Everest Bank is a financial bank of Nepal that came into existence in 1994. It is a link venture of Punjab National Bank and has its head office in Lazimpat, Kathmandu. In fact, it is a leader in online banking utility with top-notch and high-quality solutions. The bank distributes its customers with 95 branches, 123 ATMs, 3 extension counters, and 31 Revenue collection counters over the nation. Therefore, it is one of the most systematic and accessible banking service supply in Nepal. The profit rate on saving accounts in Everest Bank ranges from 3.50 – 5.50% p.a.

     Sanima Bank: With the position of one of the leading commercial banks of Nepal, Sanima Bank was founded in the year 2004. It distributes its customers with 79 branches, 72 ATMs, and 2 extension counters. Above all, the profit rate on saving deposits ranges from 1 – 6.50% paid quarterly.

     Global IME Bank: Global IME Bank was founded in 2007 with the provision of entire financial banking services. In fact, its initiation involved the hight capital base at that time. The bank currently utilizes 270 branches, 38 extension and income collection counters, and 257 ATMs. The profit rates on saving deposits scale from 0.75 – 6% p.a.

      Prabhu Bank: Prabhu Bank is one of the leading financial banks in Nepal that came to be in 2006. It has its headquarters in Babarmahal, Kathmandu. The bank has finished years of the financial journey and shortly has a network of 208 branches, 155 ATMs, and 46 addition counters across Nepal. The profit rates that Prabhu Bank’s supply on saving deposits scale from 3.50 – 5.50% per annum.