List of Banks in Nepal [Updated]

The concept of banking in Nepal dates back to the first half of the 20th century. Nepal Bank Limited (NBL) was the first bank to be established in Nepal. It was founded in 1937 AD. The establishment of Nepal Bank Limited marked the beginning of an era of formal banking in Nepal. In this article, we present you the List of Banks in Nepal.

The Central Bank of Nepal: Nepal Rastra Bank

Nepal Rastra Bank (NRB) was established in 1956 AD as the Central Bank of Nepal. It is the monetary, regulatory, and supervisory authority of banks and financial institutions. Key objectives of the Bank are to achieve price and balance of payments stability, manage liquidity and ensure financial stability, develop a sound payments system, and promote financial services. Dr. Chiranjibi Nepal is the current Governor of Nepal Rastra Bank.

The operations of all the banks in Nepal are controlled by Nepal Rastra Bank.

The following are the list of banks in Nepal, licensed by Nepal Rastra Bank:

1. Commercial Banks (Class ‘A’ Banks)

2. Development Banks (Class ‘B’ Banks)

3. Finance Companies (Class ‘C’ Banks)

4. Micro Credits Development Banks (Class ‘D’ Banks)

1. Commercial Banks

Commercial banks are Class ‘A’ type Financial Institutions. Nepal Bank Limited (established in 1937 AD) is the first commercial bank in Nepal. Commercial banks perform all kinds of banking business. The primary function of commercial banks is receiving deposits and lending to others. Functions of the commercial banks are; accepting deposits; advancing loans, letters of credit, guarantees, remittances, e-banking, bills, etc.

These banks provide banking facilities to the customer through bank branches, branchless banking service, mobile banking, internet banking, ATMs, debit cards, credit cards, etc.

As per the latest data from Nepal Rastra Bank (January, 2020), at present, there are a total of 27 Commercial Banks in Nepal. So far, a total of 4011 branches of commercial banks have been established across the nation.

Nepal Bank Ltd. (NBL)
Rastriya Banijya Bank Ltd. (RBB)
Nabil Bank Ltd. (NABIL)
Nepal Investment Bank Ltd. (NIBL)
Standard Chartered Bank Nepal Ltd. (SCBNL)
Himalayan Bank Ltd. (HBL)
Nepal SBI Bank Ltd. (NSBI)
Nepal Bangladesh Bank Ltd. (NBB)
Everest Bank Ltd. (EBL)
Bank of Kathmandu Lumbini Ltd. (BOK)
Nepal Credit and Commerce Bank Ltd. (NCC)
NIC ASIA Bank Ltd. (NIC)
Machhapuchhre Bank Ltd. (MBL)
Kumari Bank Ltd. (Kumari)
Laxmi Bank Ltd. (Laxmi)
Siddhartha Bank Ltd. (SBL)
Agriculture Development Bank Ltd. (ADBNL)
Global IME Bank Ltd. (Global)
Citizens Bank International Ltd. (Citizens)
Prime Commercial Bank Ltd. (Prime)
Sunrise Bank Ltd. (Sunrise)
NMB Bank Ltd. (NMB)
Prabhu Bank Ltd. (PRABHU)
Mega Bank Nepal Ltd. (Mega)
Civil Bank Ltd. (Civil)
Century Commercial Bank Ltd. (Century)
Sanima Bank Ltd. (Sanima)

2. Development Banks

Development banks are ‘B’ type Financial Institutions. On the basis of geographical coverage and activity level, the development banks are three types and these are a) 1- 3 districts type b) 4- 10 districts type and c) national type.

As per the latest data from Nepal Rastra Bank, at present, there are a total of 24 Development Banks in Nepal. So far, a total of 1293 branches of development banks have been established across the nation.

Narayani Development Bank Ltd.
Sahayogi Vikas Bank Ltd. Sahayogi
Karnali Development Bank Ltd.
Excel Development Bank Ltd
Miteri Development Bank Ltd.
Muktinath Bikas Bank Ltd.
Corporate Development Bank Ltd.
Kanchan Development Bank Ltd.
Sindhu Bikas Bank Ltd.
Sahara Bikas Bank Ltd.
Salapa Bikash Bank Ltd.
Green Development Bank Ltd.
Sangrila Development Bank Ltd.
Deva Development Bank Ltd.
Kailash Bikash Bank Ltd.
Shine Resunga Development Bank Ltd.
Jyoti Bikas Bank Ltd.
Garima Bikas Bank Ltd.
Mahalaxmi Bikas Bank Ltd.
Gandaki Bikas Bank Ltd.
Lumbini Bikas Bank Ltd.
Kamana Sewa Bikas Bank Ltd.
Saptakoshi Development Bank Ltd.
Tinau Mission Bikas Bank Ltd.

3. Finance Companies

Finance companies are ‘C’ type Financial Institutions. As per the latest data from Nepal Rastra Bank, at present, there are a total of 22 Finance Companies in Nepal. So far, a total of 229 branches of finance companies have been established across the nation.