Pacific Development Bank
Update: The bank was acquired by Global IME Bank Limited in 2017.
Established as a ‘B’ class regional level bank, Pacific Development Bank is situated in Besisahar in Lamjung district. The bank was registered under the Bank and Financial Institutions Act 2063 BS. The bank aims to provide efficient banking services to the regional level where the banking activities are in short supply. The bank was established with the Authorized Capital of NPR 200 million, Issued Capital of NPR 100 million and Paid Up Capital of NPR 62.90 million. About sixty five percent of the shares lay in the hands of the promoters while the remaining thirty five percent is controlled by the general public.
The bank aims to become a market leader in the financial sector of the business area and be a pioneer development bank of trust. The mission of the bank is to enable the company to achieve its goal through the continuous development of innovative financial products, responding customers needs in a timely and professional manner, continuously promoting best business practices, creating a fulfilling workplace based on mutual respect, encouraging team and individual achievement, ceaselessly re-examining values and ideas to ensure that are in tune with the organization’s goal and needs of the local people in the region.
The major objective of the bank is to provide reliable, trustworthy, efficient and quality banking services to the general public, business community and other beneficiaries with healthy competition in the banking sector as per the rule and regulation under the Bank and Financial Institution Act 2063. Besides that, other major objectives of the bank include developing viable projects and enterprises in various sectors like agriculture, trade, industries, tourism, hydropower and other services to boost up the production, income and employment opportunities, providing short term and long term funds to the organizations for economic development of the country, providing the long term and short term funds to the organizations involved in agriculture, industry, commerce or any other business for commercial, economic and agricultural development of the country, endeavoring its effort to the proper use of the internal and external resources and technology and contributing towards greater and faster economic development of the country and earning competitive return to its shareholders by delivering modern banking and financial services to its customers efficiently, effectively and elegantly.
The bank aims to provide various financial services as per the needs of the local people and earning reasonable returns to reward its promoter, shareholder and the employees through adequate and proper utilization of resources persisting in the organization. The marketing strategy of the bank is focused on local farmers, industrial and business houses, corporate, individual and household for their financial needs. The bank has two branch offices at present.
The bank was acquired by Global IME Bank Limited in 2017.