Question 1

What is Garima Bikas Bank?

Accepted Answer

Garima Bikas Bank is a national-level development bank (Class 'B' financial institution) in Nepal focused on providing sustainable and quality financial services to support economic development. The bank operates as a public limited company, playing a vital financial intermediary role through institutional investment while serving both urban and rural communities across Nepal.

Garima Bikas Bank is listed on the Nepal Stock Exchange and operates with a paid-up capital of approximately NPR 3.50 billion (as of July 2023). The bank maintains over 120 branches and ATMs throughout Nepal, serving diverse customer segments with a focus on financial inclusion and development banking.

Question 2

When was Garima Bikas Bank founded?

Accepted Answer

Garima Bikas Bank was incorporated on August 7, 2007 (Shrawan 22, 2064 B.S.) and received its operational license on November 4, 2007 (Kartik 18, 2064 B.S.) in Nepal. The bank was established under the Company Act of Nepal, 2063, and is regulated under the Bank and Financial Institution Act, 2073.

The bank was formed to address the growing need for development banking services in Nepal, focusing on sustainable financial service delivery to support economic growth and development initiatives across the country.

Question 3

Where is Garima Bikas Bank headquartered?

Accepted Answer

Garima Bikas Bank is headquartered in Lazimpat, Kathmandu, Nepal. The head office in Kathmandu-02, located in the Bagmati Province, serves as the central hub for the bank's nationwide operations and strategic management.

Question 4

Where does Garima Bikas Bank operate?

Accepted Answer

Garima Bikas Bank operates at the national level across Nepal, with authorization to provide banking services throughout all regions of the country. With over 120 branches and ATMs, the bank maintains presence in both urban centers and rural areas across Nepal's provinces.

The bank's national-level license allows it to serve customers in all districts of Nepal, from the Terai plains to the mountainous regions. This widespread coverage enables Garima Bikas Bank to fulfill its development banking mission by reaching underserved communities and supporting economic activities in diverse geographic areas.

Question 5

What services does Garima Bikas Bank offer?

Accepted Answer

Garima Bikas Bank provides comprehensive banking services including various deposit products (savings accounts, fixed deposits, and current accounts), lending services for SMEs, agriculture financing, housing loans, education loans, and personal loans. The bank specializes in development-oriented financing that supports productive economic activities.

The bank offers digital banking services including mobile banking applications, online banking platforms, and ATM services for convenient access to accounts and transactions. Remittance services facilitate both domestic and international money transfers, particularly important for Nepal's large diaspora population.

Corporate services include project financing, consortium lending for larger infrastructure projects, working capital loans, and business advisory services. Garima Bikas Bank also provides trade finance services such as letters of credit and bank guarantees to support import-export businesses.

Question 6

What makes Garima Bikas Bank unique?

Accepted Answer

Garima Bikas Bank distinguishes itself through its commitment to financial inclusion and development banking principles. The bank emphasizes financial literacy programs, rural banking initiatives, and women empowerment programs, working to bring banking services to traditionally underserved populations.

As a development bank, Garima Bikas Bank focuses on productive sector lending that contributes to economic development, rather than purely consumer-oriented lending. The bank reported strong financial performance with net profit of NPR 73.34 crores during the first nine months of FY 2081/82, demonstrating sustainable growth while maintaining its development-oriented mission.

The bank's approach combines commercial viability with social impact, supporting small and medium enterprises, agricultural development, and infrastructure projects that contribute to Nepal's economic growth. This balanced approach has enabled Garima Bikas Bank to grow sustainably while fulfilling its development mandate.

Question 7

What type of financial institution is Garima Bikas Bank?

Accepted Answer

Garima Bikas Bank is classified as a Class 'B' Development Bank under Nepal's banking regulatory framework. In Nepal's three-tier banking system (Class A: Commercial Banks, Class B: Development Banks, Class C: Microfinance Institutions), development banks occupy a specialized middle tier.

Development banks in Nepal are licensed to provide banking services with particular emphasis on development-oriented financing for productive sectors, SMEs, agriculture, and infrastructure. While offering services similar to commercial banks, development banks typically focus more on medium and long-term financing for developmental purposes.

Garima Bikas Bank is regulated by Nepal Rastra Bank (the central bank) and operates under the Bank and Financial Institution Act, 2073. Its national-level license allows unrestricted geographic operation throughout Nepal, distinguishing it from regional or district-level development banks with limited operational areas.

Garima Bikas Bank

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About Garima Bikas Bank in Nepal