Kathmandu witnesses surge of 2,000 new commercial bank branches in six years

Published On: April 16, 2024 04:30 PM NPT By: Republica  | @RepublicaNepal


Kathmandu witnesses surge of 2,000 new commercial bank branches in six years

KATHMANDU, April 16: Over the past six years, the commercial banking scene in Kathmandu has undergone significant transformation. 

According to the recent data from the Nepal Rastra Bank (NRB), a staggering 2,000 new commercial bank branch offices have been established in these six years.

Back in 2018, there were 3,024 branches. Fast forward to 2024, the number has soared to an impressive 5,036. NIC Asia takes the lead with 476 branches.

On the other hand, Standard Chartered Bank has fewer branches, just 15, as per the latest data from Nepal Rastra Bank as of February 15. Following NIC Asia closely is Global IME Bank, which has a solid 420 branch offices, making it the second-largest network.

Other banks like Prabhu Bank, Kumari Bank, Rastriya Banijya Bank, Nepal Investment Mega Bank, and Laxmi Sunrise Bank also have a good number of branch offices, ranging from 302 to 371. However, some banks are still aiming to reach the 300-branch mark. 

In terms of provinces, Bagmati has the most branches, while Karnali has the fewest as of mid- 2023. 

 

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