Nepal SBI Bank Limited
A subsidiary of State Bank of India, Nepal SBI Bank Ltd. is one of the popular banking and financial institution (service provider) in Nepal. About fifty-five percent of the ownership of the bank lay in the hands of State Bank of India while the rest is held by local partner that are Employee Provident Fund (15 percent) and general public (30 percent).
The SBI provides management support to the bank through its emigrant officers including Managing Director who is also the CEO of the Bank in terms of the Technical Services Agreement between SBI and the NBSL. The banking operations are overseen by the Central Management Committee (CENMAC) that consists of the Managing Director, Chief Operating Officer, Chief Financial Officer and Chief Credit Officer. Established in the year 1993, the bank now has fifty branches, six extension counters, two regional offices and the corporate office and employees around five hundred and thirty eight employees.
The largest commercial bank in India in terms of assets, deposits, profits, branches, customers and employees, State Bank of India has a history of two hundred years. The bank ranked in 60th position in the list of Top 1000 Banks in the world by “The Banker” in July 2012. The SBI subsidiaries or the joint ventures are the market leaders in their respective areas and provide wide range of services, which include life insurance, merchant banking, mutual funds, credit cards, factoring services, security trading and primary dealership.
It has arrangements with over 1500 various international and local banks to exchange financial messages through SWIFT in all business centers of the world. The dedicated and the highly skilled professional provide excellent and standard banking services to their customers.
The bank has grown over the year into a larger and stronger banking and financial institution and has developed in terms of business, geography and resources. The bank believes in quality, consistency and transparency of capital base, sound liquidity, a robust risk management framework coupled with the practice of good corporate governance and customer satisfaction. It is the first Indo-Nepal joint venture in the financial sector which is sponsored by three institutional promoters through Memorandum of Understanding signed on 17th July 1992. The popular services provided by the Nepal SBI Bank includes mobile wallet, Nepal SBI remit, domestic remittance, mobile sakha, Rs 501 saral bachat, varistha nagarik bachat, vishesh bachat, swastha bachat khata, ujjwal bhavisya bachat yojana, dhanvriddhi bachat yojana, karmachari bachat yojana andPF account.
For further details, contact:
Nepal SBI Bank Limited
Hattisar, Kathmandu, Nepal