Grand Bank Nepal Limited
Update: The bank merged with Nepal Development Bank Limited in 2017. The new entity operates as Prabhu Bank Limited.
Initially established as DCBL Bank Limited, a development bank, in 2001, Grand Bank Nepal Limited is operating as a commercial bank since 2008. Established by a team of professional bankers, prominent industrialists, entrepreneurs, bureaucrats and career diplomats, the bank has been providing diversified services to its customers by offering its products in the form of loans, guarantees and venture capital, etc.
The bank had to change its name in order to remove the confusion among the people regarding the fact that it was a commercial bank and not development bank anymore as most of them still thought it to be the latter. The bank has been providing its products and services to its valued customers through its twenty one branches, including the head office, all over the country among which ten are inside the Kathmandu valley and the other ten are outside of the valley.
The bank is guided by the principle of creating a relationship with the customer based on shared vision and mutual understanding for mutual benefit. The bank focuses in providing qualitative and diversified banking services backed by efficient personal approach at desired level. The authorized capital of the bank is Rs 4,000,000,000, issued capital Rs 25,00,000,000 and paid-up capital of Rs 20,00,000,000.
The services and products offered by the bank includes fixed deposit, normal savings, nari savings, super savings, karmachari bachat, child eazy savings, grand remit savings and karmit bachat and the interest rates for various saving schemes ranges from 7.50 percent to nine percent, depending upon the scheme and its features. The bank accept fixed deposits for certain period of time and the major depositors at the bank are Army Welfare Fund, Rastria Beema Sansthan, National Life and General Insurance, Citizen Investment Trust, ADB Staff Retirement Fund, Nabil Bank Limited and Retirement fund. The other services provided by the bank are treasury department, correspondents’ bullion trading, mobile banking, debit card, utility payment, remittance and lockers.
The bank merged with Nepal Development Bank Limited in 2017. The new entity operates as Prabhu Bank Limited.