Clean Energy Development Bank Limited
Update: The bank merged into NMB Bank Limited in 2015.
Established in 2006 in a joint venture with FMO – Netherlands, Clean Energy Development Bank Limited (CEDB) is the first national level development bank and probably the only Bank in Asia to have a focused developmental agenda towards harnessing the nation’s abundant natural resources in addition to uplifting the standards of living of people in Nepal. The bank is playing an important and active role in finding the best solutions to create an effective platform for the sustained development of the country making it a true development bank that made it win the ‘Best Development Bank 2010’ award.
The bank is committed towards excellence in general banking business and offers a wide range of corporate and retail banking services to the people with a unique customer oriented approach. By embracing team spirit, progressive technology and good corporate governance, the bank is dedicated to achieving sound business growth and maximizing stakeholder’s values.
The bank with the authorized capital of Rs 1.1 billion, issued capital Rs 1.088 billion and paid-up capital of Rs 1.088 billion has its fifty six percent of shares in the hands of the promoters, the foreign partner holds fourteen percent of its shares and the remaining thirty percent lay in the hands of the general public. The bank has two specialized divisions to carry out its vision and mission headed by Chief Executive Officer, that are Banking Division and Energy Division that has resulted in efficient management of the bank by a team of dynamic professionals.
The bank, with the help of USAID, came up with an innovative product called CEDB Hydro Fund (CHF) that raised Rs 230 million from the general public and stands successfully with over 100 MW worth of projects under various stages of development. It provides the services like internet banking, SMS banking, foreign exchange and other services. The bank has extended its services to rural areas like Phidim (Panchthar), Phungling (Taplejung) and Katari (Udaypur) and is the first private financial institutions to be established in the region. It has also partnered with the local financial institutions and provided services to the grassroot levels of the economy by providing solar home system loans in Dailekh and cattle financing in Gorkha. It has also developed a subsidiary named Clean Developers Private Limited (CDPL) where professionals from different walks of life work together to benchmark the next era of real estate development in Nepal.
With its works, products and services, Clean Energy Development Bank Limited has grown and developed into one of the leading development banks in Nepal in short period of time.