National Cooperative Bank Limited
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National Cooperative Bank Limited (NCBL) was established in 2003, as the only bank in the cooperative movement of Nepal at national level, in exercise of the power conferred by the sub-section 4 of section 26 under the then prevailing Cooperative Act, 1992 (first amendment, 2000) and from the recommendation of Nepal Rastra bank (Central bank of Nepal) as an umbrella institution to provide banking and financial services to all its member cooperatives following the long and continuous demand and efforts of cooperators. Assessing the importance of setting up a separate bank to exclusively support the cooperatives in the country, Nepal Government had amended the Cooperative Act, 1992 and released NPR10 million as equity participation in the fiscal year 2000 /2001. It has been successfully carrying out cooperative banking business since seventeen years.
NCBL is primarily established with the objective to meet the financial needs and launch different promotional activities to support its member cooperatives to be more professional and competitive. The establishment of NCBL, therefore, has a special implication for the development of cooperative movement of Nepal since the promotion and strengthening the cooperatives address the country major socio-economic deprivations, poverty, unemployment and inequality etc. At present, the bank with about 14,400 member cooperatives covering all 77 districts and with rapidly growing number day by day, has already extended its network in 68 different places. NCBL is further planning to be expanded to other places in the current fiscal year to better serve the member cooperatives.
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