Nepal Housing & Merchant Finance Limited
Update: The company was acquired by Citizens Bank International Limited in 2015.
Established on Ashadh 8, 2051 BS, under Company Act 2021 BS, Nepal Housing & Merchant Finance Limited, although received approval from Nepal Rastra Bank to conduct financial transaction on the very day, started its operation from 28th Chaitra 2051. The company guided by the motto “Mutual Trust Shelter for All” was established with the vision of becoming premier finance company in the country, providing superior returns to the shareholders and maintaining growth through improving compare edge in product, process and technology.
Promoted by reputed groups of businessmen, industrialists and professionals, the company has been operating in fully fledge computerized system since its establishment. Over the years, it has involved in the business of providing finances for the housing construction, hire purchase for vehicles and consumer durables and term loan for business and industry. The company not only provides diverse services but also contributes a lot in the financial sector of the country and it, time and again, has come out with new ideas in the market so as to attract such scattered deposits and mobilize it in various financial and service sectors and to assist in the development of the country.
The major objectives of the company is to provide long term financing for purchase, construction, expansion, renovation and maintenance of the residential as well as commercial buildings, provide hire-purchase/lease finance for vehicles machines, equipment and consumer goods, provide medium and long term financing to potential business and industry, mobilize capital through deposit mobilization and provide merchant banking services and to provide professional services in designing and developing computer software related financial activities. Hence, in order to meet these objectives, the company has come up with various ranges of products and services for its customers.
The products and services offered by Nepal Housing & Merchant Finance Limited are Deposit, Education Loan, Loan Against Fixed Deposit, Term Loans, Hire Purchase Loans and Housing Loans. Although the company has its head office at Dillibazar, Kathmandu, it also has its branch offices located at different locations in the country, such as one in Himalayan Road, Biratnagar that was established on 4th Poush, 2054 BS., one in Tribhuvan Chowk, Banepa which was established on 23rd Baishakh, 2066 BS and another at Tushal, Boudha in Kathmandu, established on 25th Baishakh 2066 BS.
The company was acquired by Citizens Bank International Limited in 2015.