International Leasing Finance Company Limited (ILFCL)
Update: The company was acquired by Civil Bank Limited in 2016.
Established on 11 December, 1994 under the public company legislation of Nepal, International Leasing Finance Company Limited (ILFCL) started its operations from October 31, 1995 after receiving the license on September 18, 1995 from Nepal Rastra Bank. The company established with the authorized capital of Rs 300 million, issued capital of Rs 2,008,800,000 and paid up capital of Rs 2,008,800,000 stands, today, as a pride for being the key role player in introducing lease financing to Nepal. Established with the major objective of providing the people of the nation with creative financing alternatives of international standards, the lease financing company has been continuously rendering a variety of financial services according to the needs of the Nepalese people since its establishment. The promoters of the company hold fifty one percent of its shares and the remaining forty nine percent is owned by the general public.
The company was initially established as a joint venture with the Korean Industrial Leasing CO. Limited (KILC) that was founded as a subsidiary of the Korea Development Bank in 1972. KILC merged with Korean Technology Finance Corporation (KTFC) under the restructuring program initiated by the Korea Development Bank (a common major shareholder of both KILC and KTFC) on March 2, 1999 which resulted in the establishment of KDB Capital Corporation, the largest leasing company in the Republic of Korea and also one of the three largest leasing companies within the Asian Continent. This corporation, since the establishment of ILFCL, has been participating in the leasing company’s management as a foreign partner, mostly in the technical field. To initiate the project together in Nepal to widen the scope of Nepalese financial activities, The Asian Development Bank (ADB) and National Life and General Insurance Company (NLGI) acted as the Nepalese promoters.
The company was established with the vision of bringing superiority to the lives of their valued clients and combining the quality, reliability and professionalism with the customers’ welfare which has also come as a business challenge to them. The company considers it its mission to achieve service excellence by providing global standard financial service at reasonable price and thereby contribute to the society creating exceptional value for their stakeholders. Moreover, the company do not undertake investments on projects that have been scientifically proven to be harmful to human society and the global environment.
The services and products offered by the company are Norma Saving Deposit, Nepali Bachat Khata, Saundarya Bachat Khata, Abhibadaan Bachat Khata, Baibhav Bal Bachat Khata, Fixed Deposit and Recurring Deposit under its saving and deposits account schemes and Auto Loan, Education Loan, Equipment Loan, Hire Purchase Loan, Housing Loan, Krishi Loan, Mortage Loan, Personal Loan, Project Loan and Working Capital Loan under its loan and advance schemes. The company also provides other services such as E-banking, debit cards and remittance facilities through its central office at New Baneshwor, Kathmandu.
The finance company was acquired by Civil Bank Limited in 2016.