Siddhartha Bank Limited (SBL) is a Class 'A' commercial bank licensed by Nepal Rastra Bank. It was the eighteenth commercial bank to receive a licence and began operations in December 2002. It has since grown into one of the larger private commercial banks in Nepal, serving individuals, businesses and corporate clients nationwide.
History
The bank was promoted by a group of Nepali business houses and opened for business at the end of 2002, entering a market that had recently been opened up to private commercial banking. It expanded steadily through branch growth rather than large mergers, and its shares are listed on the Nepal Stock Exchange with the promoter group holding 51 percent and the general public 49 percent.
By the 2023/24 financial year the bank reported paid-up capital of about Rs 14.09 billion. It has received industry recognition including a Bank of the Year award for its performance in the Nepali market.
Services
- Deposit accounts: savings, current, fixed deposits, recurring savings, NRN and foreign currency accounts
- Retail loans: home loans, auto loans, education loans, gold loans and personal lending
- SME and business banking: working capital, term loans, hire purchase and business overdrafts
- Corporate banking, project finance and consortium lending
- Trade finance: letters of credit, bank guarantees and import and export services
- Credit cards, debit cards and prepaid cards
- Remittance services and foreign exchange
- Digital banking: mobile banking, internet banking and QR payments
- Merchant banking, portfolio management and mutual funds through Siddhartha Capital Limited
Branch and ATM network
Siddhartha Bank operates roughly 196 branches and 226 ATMs across all seven provinces. Its head office is on Sama Marga at Naxal in Kathmandu, with branches throughout the Kathmandu valley and in Pokhara, Biratnagar, Birgunj, Butwal, Nepalgunj, Dharan, Itahari, Janakpur, Hetauda, Dhangadhi and smaller district centres.
Subsidiary and sponsorship
Siddhartha Capital Limited, a wholly owned subsidiary, provides merchant banking, portfolio management, fund management and mutual fund services.
The bank is the title sponsor of the Nepal Premier League, the country's franchise Twenty20 cricket competition, under a five-year agreement running from 2024 to 2028.
International banking
The bank is connected to the international banking system through SWIFT code SIDDNPKA and maintains correspondent banking relationships that support inward remittance, trade settlement and foreign currency transfers.
At a glance
- Type: Class 'A' commercial bank
- Operations began: December 2002, the eighteenth commercial bank licensed in Nepal
- Head office: Sama Marga, Naxal, Kathmandu
- Branches: about 196
- ATMs: about 226
- Paid-up capital: about Rs 14.09 billion (FY 2023/24)
- Subsidiary: Siddhartha Capital Limited
- Sponsorship: Title sponsor, Nepal Premier League (2024-2028)
- SWIFT code: SIDDNPKA
- Phone: 01-5970020 (toll free 1660-01-24024)
- Email: customercare@sbl.com.np
- Website: siddharthabank.com