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Siddhartha Bank Limited

Siddhartha Bank Limited (SBL) commenced operations in 2002. The Bank is promoted by a group of highly reputed Nepalese dignitaries having wide commercial experience. We provide a full range of commercial banking services through our seven branches established in Kathmandu, Birgunj, Biratnagar, Pokhara and Damak. The environment of Nepalese banking sector is undergoing a rapid transformation. With liberalization in financial markets and integration of domestic market with external markets, bank operations have become more complex and dynamic. We are geared to meet the challenges and keep abreast with the changes. The Vision statement of the Bank describes the core values and purposes that guide the Bank as well as an envisioned future. Fundamentally, in all dealings SBL earnestly believes in transparency, financial soundness, efficiency and better technology.

Vision
SBL's vision is to be financially sound, operationally efficient and keep abreast with technological developments. The Bank firmly believes customer focus is a core value, shareholder prosperity is a prime priority, employee growth is a commitment and economic welfare is a sincere concern

Mission:
The Bank wants to be a leader among the banks of its age in Nepal by fulfilling the interest of the stakeholders and also aims to provide total customer satisfaction by way of offering innovative product and by developing and retaining highly motivated and committed staff

 

Website of the Siddhartha Bank Limited: www.siddharthabank.com

 

 

News about the Siddhartha Bank
08-06-2011:
According to Securities Board of Nepal, the Siddhartha Bank today applied for the permission to start Mutual Fund under the name of Siddhartha Assets Management Company — a subsidiary of the bank. It will be the first Mutual Fund after the regulatory authority brought Mutual Fund regulation in 2067.

26-01-2010:
Siddhartha Bank registered an operating profit of Rs 243 million during the second quarter of FY '66-67. While inaugurating the bank's new corporate office at Hattisar, Kathmandu, the chairman also said that the bank's total deposit portfolio during the same period stood at Rs 17.5 billion while the total loans and advances amounted to Rs 16.64 billion. The bank also inaugurated its new branch office at Thamel with an aim to extend modern banking services and products to industrialists, businessmen, tourists and the general public.

01-01-2010:
Siddhartha Development Bank, which initially got a license to operate within three districts, has got the approval to go nationwide from Nepal Rastra Bank.

28-10-2009:
The meeting of Board of Directors of Siddhartha Bank Limited Tuesday decided to announce 10% cash dividend to the bank´s shareholders. Compared to last year, the bank has become successful in increasing its operating profit by 48 percent to Rs 347.6 million.

9-4-2009
Siddhartha Bank Ltd chairman Chiranjilal agarwal on Wednesday unveiled its new corporate logo. He said that the change in the logo was an important milestone for all the stakeholders of the bank as the new logo reflects the bank’s new commitment and the new promises that it holds for all of its customers.

6-1-2009
The seventh annual general meeting of Siddhartha Bank Ltd held on January 6 has decided to distribute 15 per cent bonus shares and 50 per cent rights shares. During the fiscal year 2007-08 the bank earned an operating profit of Rs 234.1 million while in the first five months of the current fiscal year it posted an operating profit of Rs 15.5 billion.

25-12-2008
Siddhartha Bank Ltd completed six years of operations on Wednesday. The bank posted an operating profit of Rs 155 million and collected a total deposit of Rs 11.3 billion in the first five months of the current fiscal. It has 10 branches and plans to open 10 more.

29-11-2008:
Siddhartha Bank Ltd has decided to distribute 15 per cent bonus shares and 50 per cent rights shares, subject to Nepal Rastra Bank. According to a press release, the paid up capital of the bank which was Rs 828 million increased to over Rs 1.42 billion. The bank posted an increment of 72 per cent in the operating profit compared to the same period last year, according to a bank statement. Siddhartha Bank plans to set up 10 more branches. At present, it has 10 branch offices.

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