Kathmandu, January 3:

After a gap of almost half a decade, an ‘A’ class commercial bank, Global Bank Ltd (GBL) has begun operations from Tuesday at Adarshanagar in Birgunj.

The bank, which is the 19th commercial bank, has an authorised capital of two billion rupees and paid-up capital of a billion rupees. In terms of promoters’ equity, the Global Bank is the largest private sector commercial bank so far, established in Nepal.

Chandra Prasad Dhakal, chairman of GBL, started the banking operation yesterday at a function.

Promoters of the bank include renowned entrepreneurs and senior businessmen of the country.

“We will soon expand our services to different parts of the country,” Dhakal said, adding that the bank will provide better returns on deposits and hassle-free loans to enterprises.

Suman Neupane, chief executive officer of GBL, said that the bank is committed to provide best possible banking services and products using modern and world renowned technologies and software including ‘Finacle’.

Besides conventional banking services, GBL will render quality services through modern banking tools such as internet, ATM, anywhere banking service and so on.

The promoters of the bank include Chandra Prasad Dhakal represents IME Group, Suhrid Raj Ghimire from Continental Group, Devi Prakash Bhattachan of Prabhu Group, Sumit Agrawal of MS Group, Worldwide Investment, Usha Investment, Ganesh Prasad Adhikari, Atma Krishna Shrestha, Jagadish Ghimire and Rajesh Upadhaya.

The other promoters are former attorney general Sushil Kumar Panta, Sandip Agrawal, Suraj Kumar Shrestha and Dhan Bahadur Bhattachan.