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NMB Bank Nepal is a
commercial bank A commercial bank is a financial institution that accepts deposits from the public and gives loans for the purposes of consumption and investment to make a profit. It can also refer to a bank or a division of a larger bank that deals with whol ...
in
Nepal Nepal, officially the Federal Democratic Republic of Nepal, is a landlocked country in South Asia. It is mainly situated in the Himalayas, but also includes parts of the Indo-Gangetic Plain. It borders the Tibet Autonomous Region of China Ch ...
with headquarters in
Kathmandu Kathmandu () is the capital and largest city of Nepal, situated in the central part of the country within the Kathmandu Valley. As per the 2021 Nepal census, it has a population of 845,767 residing in 105,649 households, with approximately 4 mi ...
. The bank is licensed by
central bank A central bank, reserve bank, national bank, or monetary authority is an institution that manages the monetary policy of a country or monetary union. In contrast to a commercial bank, a central bank possesses a monopoly on increasing the mo ...
of Nepal, the Nepal Rastra Bank, and has 202 branches across the nation providing
retail Retail is the sale of goods and services to consumers, in contrast to wholesaling, which is the sale to business or institutional customers. A retailer purchases goods in large quantities from manufacturers, directly or through a wholes ...
and commercial banking services. The bank's shares are publicly traded on the Nepal Stock Exchange. The Bank has a joint venture agreement with Netherlands Development Finance Company (FMO) a Dutch
development bank Development finance institution (DFI), also known as a Development bank, is a financial institution that provides risk capital for economic development projects on a non-commercial basis. DFIs are often established and owned by governments or ...
which holds 13.69% of the bank's shares and is the largest shareholder of the Bank.


History

It was founded in May 2008 and is licensed as an "A" class financial institution. It was created as a merger with four financial institutions, Bhrikuti Development Bank, Pathibhara Bikas Bank, Prudential Finance Company, Clean Energy Development. In September 2016, the bank signed a joint venture agreement with the Netherlands Development Finance Company (Nederlandse Financierings-Maatschappij voor Ontwikkelingslanden, following which FMO became the single largest shareholder of the bank. NMB Bank has been recognized as 'Bank of the Year in Nepal' for two consecutive years, 2017 and 2018 by
The Banker ''The Banker'' is an English-language monthly international financial affairs publication owned by '' The Financial Times'' and edited in London, United Kingdom. The magazine was first published in January 1926 through founding editor Brendan ...
, a service of the
Financial Times The ''Financial Times'' (''FT'') is a British daily newspaper printed in broadsheet and also published digitally that focuses on business and economic Current affairs (news format), current affairs. Based in London, the paper is owned by a Jap ...
, for its leading role in the country’s financial sector by using new digital technologies. In September 2019 NMB Bank has acquired Om Development Bank.


Ownership structure

The Bank currently has a paid-up capital of Nepalese
Rupees Rupee (, ) is the common name for the currencies of India, Mauritius, Nepal, Pakistan, Seychelles, and Sri Lanka, and of former currencies of Afghanistan, Bahrain, Kuwait, Oman, the United Arab Emirates (as the Gulf rupee), British East Afr ...
18.37 Billion (as of FY 2023/24) *Promoter Group - 51.00% *General Public - 49.00%


Subsidiaries

The bank's subsidiaries are as follows: * NMB Capital Limited. * NMB Securities Limited. * NMB Laghubitta Bittiya Sanstha Limited.


See also

* List of banks in Nepal


References

Banks of Nepal 2008 establishments in Nepal {{Nepal-stub