Nabil Bank, (; formerly known as Nepal Arab Bank Limited, is the first foreign joint venture
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, established in 1984. It provides a wide range of commercial banking services, including branch banking, treasury, trade, cards, remittance, and investment banking through its subsidiary, Nabil Investment Banking Ltd. The bank operates an extensive network of 268 branches, 317 ATMs, and numerous correspondent banking relationships.
History
Founded in 1984, the bank has 7 province offices and branches across the nation and its head office in Durbar Marg,
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 ...
.
It began as the first bank in Nepal incepted by multinational (primarily foreign) investors (as Nepal Arab Bank Ltd) on 12 July 1984. The bank was incorporated with the objective of providing modern, international-standard financial services to businesses.
Its Dubai government-owned majority share was purchased in 1995 by Nepal's only billionaire businessman,
Binod Chaudhary. It maintains its head office at its Nabil Center,
Durbar Marg
Durbar Marg or Durbarmarg (; informally known as ''King's way'') is a broad, long avenue in the Nepali capital, Kathmandu. It can be considered the heart of the city, akin to the Champs Elysées and the chief avenues of many capitals. As it leads ...
flanking the chief avenue of
the capital
''The Capital'' (also known as ''Capital Gazette'' as its online nameplate and informally, while the Sunday edition is called ''The Sunday Capital'') is a daily newspaper published by Capital Gazette Communications in Annapolis, Maryland, to ...
leading to its grand palace. Nabil Bank operates through its wide network of 268 branch offices, 316 ATMs, numerous POS terminals, and remittance agents spread across the nation.
The Bank also has more than 200 international correspondent banking relationships. Nabil Bank operates its investment banking arm through its subsidiary Nabil Investment Banking Ltd.
Nabil bank had acquired
Nepal Bangladesh Bank in July 2022.
On 22 December 2022, Nabil Bank launche
nBank a neo banking service that works as a virtual branch of the bank.
Gyanendra Dhungana was appointed the chief executive officer on 1 July 2022 after the tenure of the celebrity banker Anil Keshary Shah was over.
Ownership structure
The Bank currently has a paid-up capital of 27.06 billion 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 ...
(as of FY 2023/24).
*Promoter Group - 60.00%
*General Public - 40.00%
Subsidiaries
The bank's subsidiaries are as follows:
* Nabil Investment Banking Limited.
* Nabil Stock Dealer.
External links
Official Website
References
Banks of Nepal
Banks established in 1984
1984 establishments in Nepal
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