Siddhartha Bank Appoints Rameshwar Prasad Bassyal as Acting CEO
3rd December 2025, Kathmandu
Siddhartha Bank Acting CEO position has been filled. Rameshwar Prasad Bassyal, who previously served as Deputy Chief Executive Officer (DCEO), has been appointed to the top interim role.
Siddhartha Bank Acting CEO
This crucial appointment follows the nearing completion of the current CEO’s tenure. The bank’s board announced the decision recently.
Background on the Change in Leadership
Siddhartha Bank Limited is undergoing a leadership transition. The incumbent CEO, Sunder Prasad Kandel, will complete his four-year term soon. His tenure is set to conclude on December 12 (Mangsir 26). This change necessitated the appointment of a new leader.
The bank’s Board of Directors (BOD) convened a meeting on December 2 (Mangsir 16). The primary agenda was filling the soon-to-be-vacant top executive position. The board officially decided to appoint DCEO Bassyal as the Acting CEO (ACEO).
Rameshwar Prasad Bassyal’s New Role
Rameshwar Prasad Bassyal will officially assume the role of Acting CEO on December 13 (Mangsir 27). This was confirmed by the Company Secretary, Laxman Ghimire. Bassyal brings significant experience from his previous role as DCEO. His appointment ensures continuity in the bank’s operations during the transition phase.
The board’s decision highlights their confidence in Bassyal’s capabilities. His leadership will be vital for maintaining the bank’s strategic direction. He is expected to lead the bank until a permanent CEO is selected and appointed.
Importance of the Acting CEO Position
An Acting CEO is essential during such executive transitions. This role maintains all core banking functions. It ensures that strategic decisions and daily operations are handled without interruption. Bassyal will now execute all the responsibilities of a full-fledged CEO.
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The appointment process was quick and decisive. The board acted promptly to prevent any leadership vacuum. This swift action reflects the bank’s strong corporate governance.
Bassyal’s Banking Expertise
Bassyal’s long association with Siddhartha Bank is a major asset. As DCEO, he actively drove several key initiatives. He has a deep understanding of the bank’s structure and market position. This internal knowledge makes him the ideal candidate for the interim role.
The banking sector in Nepal is highly regulated. An experienced hand at the helm is paramount. Bassyal’s expertise will help navigate the current economic landscape. Stakeholders are generally optimistic about his appointment.
What Happens Next?
The bank will now initiate the formal process for permanent CEO selection. The process typically involves internal and external candidates. The board will review applications and conduct interviews. Finding the best long-term leader for Siddhartha Bank is the ultimate goal.
In the meantime, Bassyal’s focus will be on operational excellence. He will continue the bank’s current projects and monitor its financial health. His immediate task is ensuring a smooth financial year-end. The financial community will closely watch the bank’s performance under his new leadership.
This appointment marks a new chapter for Siddhartha Bank. Siddhartha Bank Acting CEO Bassyal is prepared to take on this challenge. The transition is expected to be seamless, with banking operations continuing uninterruptedly. The bank’s commitment to its customers remains the top priority during this period.
For more: Siddhartha Bank Acting CEO
