Kasthamandap Development Bank Limited
Update: The bank was acquired by Kumari Bank Limited in 2017.
Established under the Bank and Financial Institution Act of 2063, Kasthamandap Development Bank Limited was established as a national level development bank with its head office in Kathmandu district. The bank would be operating throughout Nepal, one way or the other, under the guidelines of the Central Bank and will be dedicated and effortful in performing its banking activities and other commercial and economical activities.
The bank was established with the vision of becoming one of the leading development banks functioning in Nepal and with its products and services, it aims to help improve the condition and the financial status of the people with comparatively low income in the rural as well as the urban areas of Nepal. The bank aims to establish itself as one of the leading development banks in Nepal and to be the first choice of the people as well as to play an important part in the economic development of the country. It aspires to empower the people by providing financial assistance at as minimum interest rates on loans as possible.
With its ten branches, including the head office, inside the Kathmandu valley and nine braches outside the valley, it aspires to give quality services to its clients keeping in mind their convenience. The products and services of the bank include fixed deposits, saving deposits, current deposits and foreign currency deposits. Kasthamandap Development Bank also gives high interest rates on the fixed deposits and saving deposits, higher compared to the rates given by most of the other banks. Its loan scheme includes home loan, auto loan (private vehicle), mortgage loan, overdraft loan, term loan, loan against share, demand loan, hire purchase loan (commercial vehicle), deprive sector loan, loan against FD, education loan and other loans.
The facilities provided by the bank include evening counter facilities, locker facilities, remittance, debit card, ATM Network, etc.
The bank merged with Shikhar Finance Limited in 2012 and was later acquired by Kumari Bank Limited in 2017.