February 01, 2015 7:44 PM ET

Banks

Company Overview of Rastriya Banijya Bank

Company Overview

Rastriya Banijya Bank provides banking services to banks, insurance companies, industrial trading houses, airlines, and hotels in Nepal. It engages in accepting deposits, investing in government securities, lending to productive sectors, dealing with foreign currency, processing domestic and foreign remittances, and providing merchant banking and correspondent banking services. The company also provides corporate banking services, including short to medium-term commercial lending, and structured finance and transaction banking services; retail banking services, such as housing, auto, and education loans, as well as loans against gold silver; deposit services, including current, savings, and ...

Singhadurbar Plaza

Kathmandu,  

Nepal

Founded in 1966

Phone:

977 1 425 2595

Fax:

977 1 425 2931

Key Executives for Rastriya Banijya Bank

Chief Executive Officer and Director
Compensation as of Fiscal Year 2014.

Rastriya Banijya Bank Key Developments

Rastriya Banijya Bank To Go Public In 2015

Rastriya Banijya Bank is planning to issue 30% shares to the general public within 2015. The initial public offering (IPO) will be worth more than INR 3 billion. Rewat Bahadur Karki, Chairman of Rastriya Banijya Bank said, "Rather than bringing in a strategic partner, we think going public will help the bank achieve sustainable growth."

RBB Seeks Not To Sell Shares Through Public Auction

Rastriya Banijya Bank (‘RBB’) is selling its promoter shares of Nepal Investment Bank Ltd. (‘NIBL’) and Nepal Aawas Finance Ltd. (‘NAFL’) through open bidding system. RBB has decided to sell its 6,220,066 units of shares of NIBL and 198,497 units of NAFL to small investors after its efforts to find buyers interested to buy shares in bulk went in vain. Earlier, RBB had issued a public notice twice inviting buyers interested to purchase shares in bulk. However, no one had showed up. RBB decided to offload shares as per the directives of the Nepal Rastra Bank - the central monetary authority - that required all banks and financial institutions, which have cross holding in other BFIs, to offload such shares by the end of fiscal year 2013 or 2014. We have been trying hard to offload the cross-holding. We issued public notice twice to sell these shares in bulk,” Bhupendra Pandey, Chief of Treasury Department of RBB, said. “As no buyers showed up, we are not planning to sell the shares through public auction.”

EPF And CIT To Acquire Stake In NIBL

Employees Provident Fund, Nepal (EPF) and Citizen Investment Trust (CIT) are looking to acquire aroung INR 3 billion worth of shares of Nepal Investment Bank Limited (NIBL) from Rastriya Banijya Bank (RBB). Krishna Prasad Devkota, head of the Financial Sector Management Division at the Ministry of Finance said, "Yes, EPF and CIT are holding talks on acquiring RBB's stake in NIBL".

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