Sunday April 05,2020

News FY 2074-75

Nabil Bank Launches its SME Hub and joins hands with UKaid Sakchyam to Promote Access to Finance to the Micro and SME sector

Nabil Bank is pleased to announce the inauguration of its Mid-Corporate and SME Hub in the United World Trade Center, Tripureshwor, Kathmandu by the Bank’s Chairman Mr. Shambhu Prasad Poudyal. UWTC is located centrally and is accessible from all the major locations of Kathmandu. It is a spacious place with ample parking facilities at the basement.  

The Hub caters to business enterprises involved in trading, manufacturing and services of Mid-Corporate (MCOR) and SME sizes. The Hub also looks after direct and indirect Micro Financing activities at various Branches of the Bank across the nation.

Mid-Corporate lending covers loans above Rs. 3 crores up to Rs. 10 crores a single unit or group. SME lending covers loan exposure up to Rs 3 crores, whereas Micro Finance covers Direct Lending to Individuals and Units, Wholesale Lending to MFIs and Cooperatives, as well as Equity Investments in MFIs.

Nabil Bank and UKaid Sakchyam Access to Finance Programme (Sakchyam) also joined hands to promote access to finance to the Micro and SME sector. Nabil Bank intends to work with Sakchyam to increase its footprints in the rural sector by establishing a dedicated and specialized SME lending unit in the Bank to enhance access to finance for micro, small and medium enterprises operating in the country. Sakchyam and Nabil Bank will be jointly working on market assessment, product development, process and operational set up and training and development, targeted for rural areas. A Memorandum Of Understanding (MoU) to this end was also signed today between Nabil Bank and Sakchyam during the inauguration of the Hub.

Anil Shah, Officiating CEO of the Bank stated, “The inauguration of the Mid-Corporate & SME Hub and the signing of the MoU with Sakchyam reinforces Nabil Bank’s commitment to grow its SME and Mid-Corporate loan portfolio across the country. Currently we have a Mid-Corporate and SME loan book of over Rs. 25 billion and want to exponentially increase it in the days ahead. Mid-Corporates and Small & Medium Enterprises are the backbone of our economy and Nabil Bank wants to play an active role in the growth of this sector. By working together with Sakchyam we are confident to introduce new products and enhanced processes to enable us to surge ahead together.”

Similarly, Baljit Vohra, Team Leader of Sakchyam said, “To unleash the potential of SMEs in Nepal, Sakchyam has been working in partnership with various financial institutions, especially commercial banks, to facilitate easy access of innovative new financial products and services to SMEs. We are particularly excited about the Nabil partnership, and its commitment to set up a dedicated SME Hub.  Through this SME hub, we will bring in the best of global practices and delivery mechanisms to meet the diverse financing needs of small and medium enterprises in a more comprehensive and robust way.”

The Bank has also launched a new product named ‘NabilSME Fast Track Loan’ to assist emerging midsized trading, manufacturing and service businesses with a very competitive interest rate with the following main features:

•        Attractive Interest Rate of 11.50% p.a. fixed for one year.

•        Easy and Faster Processing.

•        Loan Approval within 5 days.

•        Loan Size Rs. 5,00,000 (Rupees five lakhs) to Rs.3,00,00,000 (Rupees three crores).

•        Catering to all types of financing requirements of mid-sized growing businesses.

The NabilSME Fast Track Loan is available across all Nabil Branches throughout the country and also from Mid Corporate and SME Hub, Tripureshwor, Kathmandu.