Nepal Bank turns 87

KATHMANDU, NOVEMBER 15 : Nepal Bank has entered into 87th year of its its establishment. Founded on Kartik 30, 1994 B.S. (Nov. 15, 1937 A.D.) the state-run entity holds the distinction of being Nepal’s first bank. At the time of its founding, it had 10 investors, a paid-up capital of 842,000 rupees, deposits totalling 1.7 million rupees, and 12 employees.

Today, the bank operates 229 branch offices and 59 extension counters, with a workforce of 3,610. The bank currently serves 2,541,367 depositors and 145,402 loan clients. From an initial capital of 800,000 rupees, the bank's paid-up capital has now risen to 14.694 billion rupees. By the end of the last Nepali month of Ashoj (mid-September to mid-October), the bank’s reserve fund had reached 24.2 billion rupees, bringing its total net worth to 38.89 billion rupees.

In the last fiscal year, Nepal Bank recorded a net profit of 1.65 billion rupees and a distributable profit of 769.3 million rupees, resulting in earnings per share of 16.39 rupees.

From an original deposit base of 1.7 million rupees, the bank's total deposits have now surpassed 200 billion rupees, amounting to 286.257 billion rupees as of the end of Ashoj. Likewise, loan investments, which started at 1.9 million rupees, have also exceeded 200 billion rupees, totalling 202.546 billion rupees by the end of the said month.