Yeti Finance Limited
Update: The finance company merged into Yeti Development Bank Limited in 2013 and later into Mahalaxmi Development Bank Limited in 2017.
Yeti Finance Limited was established in the year 2052 BS with Makawanpur Chamber of Commerce and Industries as well as many other experienced professionals as its promoters. This pioneer finance company of Makawanpur District has been catering financial service to commercial and industrial sectors as well as consumers contributing to the economy of the country in compliance with the rules and regulations and directives of Nepal Rastra Bank. The company has its head office at Bank Road in Hetauda and its branch offices in the main cities and some rural regions of Nepal including Kathmandu, Birgunj and Palung. It further plans to extend its branches. Sixty percent of the company shares are held by the promoters while the general public holds forty percent.
The finance company established with the authorized capital of Rs 200,000,000, issued capital of Rs 16,10,00,000 and paid up capital of 16,10,00,000 has launched various deposit accounts with minimum balance requirement ranging from zero or son, with the intention of including all customers from different walks of life. It has also been providing corporate to consumer loans along with ATM, inter-branch cash deposit and withdrawal, money transfer and other such facilities and services along with the cooperation of with various other banks. It is dedicated to serve its valued customers with state of art financial facilities keeping up with time in days ahead.
Some of the products and services offered by the finance company include Fixed Deposit, Yeti Bulk Deposit, Shareholder Deposit, Yeti Saving Plus, Future Deposit, Staff Salary Saving, Daily Saving, Normal Saving, Nari Bachat, Student Deposit, Senior Citizen Deposit, Flexi Deposit and Corporate Deposit under its saving and deposit account schemes and Gold Loan, Working Capital, Business Loan, Hire Purchase Loan, Education Loan, Social Loan, Loan Against Share, Personal Loan, Home Loan, Foreign Employment Loan, Deprived Sector Loan, Real Estate Loan, Loan Against Fixed Deposit Receipt and Loan against recurring deposit under its loans and advances schemes. Besides these, it also provides services such as Yeti Debit Card, remittance facilities, etc.
The bank entered into a merger with Valley Finance Limited and Manakamana Development Bank Limited in 2013 and started operating as Yeti Development Bank Limited. The bank was later merged into ‘Mahalaxmi Bikash Bank Limited’ in 2017.