Nepal Bank Limited - The First Bank of Nepal

History

King Tribhuvan inaugurated Nepal Bank Limited on Kartik 30,1994 Bikram Sambat.[clarification needed] This maarked the beginning of an era of formal banking in Nepal. Until then all monetary tractions were carried out by private dealers and trading center.

In that era, very few understood or had confidence in this new concept of formal banking. Rising equity shares were not easy and mobilization of deposits even more difficult. This was evident when the bank floated equity shares worth NRs. 2,500,000, but was successful only in raising NRs. 842,000.

The total deposits for the first year was NRs. 17,02,025 where current deposits was about NRs. 12,98,898 fixed was about NRs. 3,88,964 and saving was NRs. 14,163. Loan disbursed and outstanding at the end of the first year was NRs. 1,985,000.

From the very conception and its creation, Nepal Bank Ltd, was as joint venture between the government and the private sector. Out of 2500 equity shares of NRs. 100 face value, 40% was subscribed by the government and the balanced i.e. 60% was offered for the sale to private sector. There were only 10 shareholders when the bank first started.

Introduction
Nepal Bank Limited, The first bank of Nepal was established in November 15, 1937 A.D (Kartik, 30, 1994). It was formed under the principle of Joint venture (Joint venture between govt. & general public). NBL's authorized capital was Rs. 10 million & issued capital Rs. 2.5 million of which paid-up capital was Rs. 842 thousand with 10 shareholders. The bank has been providing banking through its branch offices in the different geographical locations of the country.

Corporate Vision:
"Pioneer Bank with complete banking solution"

Mission Statement: NEW
Network for inclusion: Use bank's network to increase its reach all over the country from urban areas to rural areas and help in improving the lifestyle of rural population and in turn become the bank of choice of corporate, medium businesses and rural market

Enhancing the value: To employees, shareholders, government and customers

World class banking services: Provide world class banking services by achieving excellence in customer service and adopting high level technology standards

Values Statement: SPIRIT
Segmented business approach: For risk management and enhancement of efficiency

Partnership: With all stakeholders including the Government, employees, shareholders and customer

Innovation: Of business areas and processes for providing Advanced banking services, and enhance competitiveness

Responsiveness: responding to the changing need of the market/society/business on timely basis

Integrity: Uphold trustworthiness and business ethics in the business process

Total banking solutions: To cater the need of all sections of society

Objectives:

Nepal Bank Limited has the following objectives:

Focus on building the positive net worth and meeting minimum capital requirement over the coming five years.

Focus on increasing the customer base and market share.

Maximize the potential/efficiency of bank's staff.

Focus on minimizing the risk associated with the business.

Focus on providing the world class business solutions.

Focus on increasing the sustainable profit.