Nabil & Unilever pact for Channel Financing

Kathmandu, Sept 8. Kathmandu: Nabil Bank Ltd. has entered into an agreement with Unilever Nepal Limited to provide Channel Financing Facility to its registered members. Mr. Gyanendra Prasad Dhungana, CEO of Nabil Bank Ltd., and Mr. Amlan Mukherjee, MD of Unilever Nepal Ltd signed a Memorandum of Understanding (MoU) on September 05, 2022, in presence of Mr. Sujit Kumar Shakya, Sr. DCEO of Nabil Bank and Mr. Niraj Basnet (Danil), Head – SME & MF, Nabil Bank along with some of the major distributors of Unilever Nepal Limited. After MoU, Unilever provided a ‘Reference Letter’ of three distributors for processing channel financing from the bank.

With this strategic partnership, the bank assures Channel Partners like distributors, dealers, and retailers of Unilever to avail Channel Financing Facility with attractive pricing and collateral support.

The major attraction of this facility is that it allows distributors to receive the full value of bills issued to their distributors, dealers, and retailers through bank financing. Furthermore, the registered partners can also avail of various other SME loan facilities to meet their financing requirements.

Speaking about the partnership with Unilever Nepal Limited, Mr. Dhungana stated that the bank aims to support associated members of Unilever Nepal Limited in managing working capital and cash flow shortages through Channel Financing loans and various other SME loans so as to improve the sustainability of SME business.