Nepal SBI Bank Ltd. or NSBL in short name is a subsidiary of State Bank of India (SBI) having 55 percent of ownership. State Bank of India (SBI) is one of the largest commercial Bank in India in terms of assets, deposits, profits, branches, customers and employees. 55 percent of the total share capital of the Bank is owned by the State Bank of India, 15 percent is held by the Employees Provident Fund and the balance is held by the general public . with permission with Nepal Rastra bank it has been providing the banking service in Nepal .
History of Bank (SBI Bank Branches)
The origins of State Bank of India date back to 1806 when the Bank of Calcutta (later called the Bank of Bengal) was established. In 1921, the Bank of Bengal and two other banks (Bank of Madras and Bank of Bombay) were amalgamated to form the Imperial Bank of India. In 1955, the Reserve Bank of India acquired the controlling interests of the Imperial Bank of India and SBI was created by an act of Parliament to succeed the Imperial Bank of India.
The SBI group, consists of SBl and five associate banks. The group has an extensive network, with over 20000 plus branches in India and another 187 offices in 34 countries across the world. As of 31 March 2012, the group had assets worth USD 359 billion, deposits of USD 278 billion and capital & reserves in excess of USD 20.88 billion. The group commands over 22% share of the domestic Indian banking market.
Nepal SBI Bank has also established its wholly owned merchant banking subsidiary viz: Nepal SBI Merchant Banking Ltd. in the year 2016. In terms of the Technical Services Agreement between SBI and the NSBL, the former provides management support to the bank through its expatriate officers including Managing Director who is also the CEO of the Bank. Central Management Committee (CENMAC), consisting of the Managing Director & CEO, Chief Operating Officer & Dy. CEO, Chief Financial Officer, Chief Risk Officer and Chief Credit Officer, exercises overall control functions with the help of 3 Regional Offices, and oversee the overall operations of the Bank.
This is the first time NSBL is partnering with a digital wallet in Nepal to facilitate to facilitate its customers to make digital payments via e-Banking channels. This partnership is expected to further help in the adoption of digital payments in Nepal ultimately moving the country towards a cashless economy.
Kathmandu Valley SBI Bank Branches
Within the Kathamandu valley, the SBI has altogethere 18 branches with 3 extension counters and 2 Administrative Offices. Below is the list of SBI bank braanches in kathandu valley
- Commercial Branch
- Durbar Marg Main Branch
- New Baneshwor
- New Road
- Patan, Jawalakhel
- Embassy of India Ext. Counter, Lazimpat
- Pashupatinath Ext. Counter, Pashupati
- Indian Visa Service Centre, Lazimpat
- Regional Office, Kathmandu
- Corporate Office, Hattisar
Eastern Region SBI Bank Branches
Easteren Region of nepal, the SBI bank has altogether 12 branches with one 1 extention counter and One 1 administrative office)