Development Bank in Nepal - Updated Lists in 2023

The role of the development bank in Nepal is crucial in the economic growth and stability of the nation. In Nepal, development banks, one of the financial institutions have a very important role in promoting sustainable development, supporting local businesses, and empowering communities. 

This article provides the list of development bank in Nepal with an overview of the history, functions, and regulatory framework of development banks in Nepal. 

History of Development Banks in Nepal

The concept of development banking in Nepal dates back to the late 20th century. The first development bank, Nepal Industrial Development Corporation, was established in 1956 with the aim of fostering industrialization. Since then, the development banking sector has expanded to cater to various sectors of the economy, such as agriculture, tourism, and infrastructure.

Nepal Rastra Bank's Provisions and Regulation

The Nepal Rastra Bank (NRB), the central bank of Nepal, regulates and supervises development banks. Development Banks are taken as 'B' grade financial institutions in Nepal according to the NRB's provisions. 

NRB's provisions also ensure that these banks operate within a framework that promotes transparency, accountability, and financial stability. Development banks are required to maintain a certain level of capital adequacy, follow prudent lending practices, and comply with anti-money laundering and know-your-customer norms.

Furthermore, NRB periodically reviews and updates the regulations governing development banks to align with the changing economic landscape and emerging challenges. 

There are 16 development bank in Nepal as of July 2023. The names and symbols of development banks in Nepal are here as follows. 

List of development banks in Nepal

1. Corporate Development Bank Limited - CORBL
2. Excel Development Bank Ltd. - EDBL
3. Garima Bikas Bank Limited - GBBL
4. Green Development Bank Ltd.- GRDBL 
5. Jyoti Bikas Bank Limited - JBBL
6. Kamana Sewa Bikas Bank Limited - KSBBL 
7. Karnali Development Bank Limited - KRBL
8. Lumbini Bikas Bank Ltd. - LBBL
9. Mahalaxmi Bikas Bank Ltd. - MLBL 
10. Miteri Development Bank Limited - MDB
11. Muktinath Bikas Bank Ltd. - MNBBL
12. Narayani Development Bank Limited - NABBC
13. Saptakoshi Development Bank Ltd - SAPDBL
14. Shangrila Development Bank Ltd. - SADBL
15. Shine Resunga Development Bank Ltd. – SHINE
16. Sindhu Bikash Bank Ltd - SINDU

These are the final updated list of development banks in Nepal. 

You may like to read about First Bank of Nepal

 List of commercial banks in Nepal