Friday, November 11, 2011

Rastriya Banijya Bank (RBB) - Introduction

Rastriya Banijya Bank (RBB) is fully government owned, and the largest commercial bank in Nepal. RBB was established on January 23, 1966 (2022 Magh 10 BS) under the RBB Act. Now, the bank is running under bank and financial institute act 2063 . RBB has been contributing to socio  economic development of the country for the last four and half decades. The Bank has currently entered into 46 years of service. RBB provides various banking services to a wide range of customers  they include elite to poor individuals, institutional customers, and the customers  from industry / business communities.

RBB has Nepal's most extensive banking network with over 131 branches (131 ABBS Branches). Through its widest  branch and ABBS network  RBB has been catering modern Banking services to  millions of customers.
The Bank was transformed in s company in 2063 1-6 B.S. Following this historical transformation the bank has successfully completed its first ever general assembly on 2067-05-31 BS.

RBB has many correspondent arrangements with major international banks all over the world that facilitate trade finance, bank-originated personal funds transfers and interbank funds transfer via SWIFT. In a bid to promote remittance business, RBB works with Western Union and International Money Express, two leading person-to-person funds transfer networks.

The bank has played crucial role for the development of financial sector i.e. bank, insurance companies through its promoter’s role. As a second commercial bank of the country, the bank has been contributing in the trade, industry and agricultural  sector of the country. The bank has also contributed in the hydropower sector. Health and Education sector are also benefitted through its disbursement.

As a government owned bank the bank is also contributing towards achieving national goals as per the government directives. The bank has made significant contribution in the development of private sector either by loan disbursement or  by active participation in the fairs organized by industrial and business communities.

The bank is also in the frontline towards   fulfilling corporate social responsibility. The bank has been working as a development partner by acting as a fund administrator of Poverty Alleviation Fund (PAF). Similarly, the bank has been working as a chief administrator in the Educational Assistance Project (run  with the assistance of World Bank) aimed at assisting poor and diligent students learning at higher secondary and bachelor level.

Developing RBB as model / number one financial institution of the country

Contributing towards flourishing industrial, commercial sector of the country
Contributing for the development of agricultural sector
Help realizing national goals set by government.

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