Garima Development Bank Inaugrates Owned Central Office Building in Baluwatar
20th August 2026, Kathmandu
Garima Development Bank Limited has officially relocated its central office from Lazimpat to its self-owned, newly constructed building in Baluwatar, Kathmandu Metropolitan City-3.
Garima Bank Central Office
The new facility was inaugurated by Nepal Rastra Bank Governor Prof. Dr. Bishwanath Poudel.
Key Highlights of the New Central Office Building
Property Ownership: This marks the first time the bank is operating its central office from a self-owned property in Kathmandu.
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- Construction Cost: Built at an approximate cost of NPR 1.25 billion.
- Land and Space Capacity: The building covers an area of 37 aana (approximately 47,625 square feet) and can accommodate around 320 employees simultaneously.
- Religious Ceremony: As part of the inauguration, religious rituals were performed, including the Shiva Panchayan Pran Pratishtha ceremony at the newly built temple inside the office premises.
Historical Timeline of Operations
- Kartik 18, 2064: Financial operations commenced from Waling, Syangja.
- Baisakh 1, 2067: Central office relocated to Mahendrapul, Pokhara.
- Chaitra 27, 2073: Upgraded to a national-level development bank and shifted its central office to Lazimpat, Kathmandu.
- Present Day: Central office shifted to its own headquarters in Baluwatar, Kathmandu, after nearly a decade operating in Lazimpat.
Financial Growth and Market Footprint
- Paid-up Capital: NPR 6.02 billion
- Total Deposits: NPR 100 billion
- Shareholder Base: Approximately 100,000 shareholders
- Customer Base: Serves around 1 million customers
- Workforce: Employs 1,052 people
- Network Reach: Operates 126 branches across 37 districts along with 51 ATMs nationwide
Leadership Perspectives
Chief Executive Officer Madhav Prasad Upadhyay highlighted that moving to a self-owned central building marks a milestone in the bank journey, attributing its growth from Waling to Kathmandu to strong corporate governance, customer support, regulatory backing, and partner trust.
Chairman Dilip Pratap Khan reiterated the commitment of the bank to enhance stakeholder trust through corporate governance, business transparency, technology adoption, and innovation.
Key Attendees
The inauguration ceremony was attended by Securities Board of Nepal Chairman Dr. Gopal Prasad Bhatt, officials from Nepal Rastra Bank, board members, former executive leadership, senior management, chief executive officers of other financial institutions, shareholders, and customers.
For More: Garima Bank Central Office
