7th September 2025, Kathmandu
In a move that signals a continued commitment to stable and experienced leadership, Everest Bank has officially announced the reappointment of Mr. Sudesh Khaling Rai as its Chief Executive Officer (CEO).
Everest Bank CEO Reappointment
The decision was made by the bank’s board of directors during a meeting held on Bhadra 22, solidifying his position at the helm of one of Nepal’s leading commercial banks.
Mr. Khaling’s new term is set to begin on Ashoj 8, immediately following the completion of his first successful four-year tenure.
This reappointment is a significant vote of confidence from the board in Mr. Khaling’s leadership and vision. He first took office as CEO in Ashoj 2078, marking a historic moment as the first Nepali national to hold the top executive position at Everest Bank, a joint venture with Punjab National Bank, India.
His initial appointment broke a long-standing tradition where the CEO was typically an appointee of the Indian partner. This move symbolized a new era of localized leadership, leveraging deep domestic banking expertise.
A Legacy of Experience and Growth
Mr. Sudesh Khaling Rai brings with him a wealth of experience spanning over three decades in the Nepali banking sector.
Before joining Everest Bank, he held the CEO position at Laxmi Bank and served as a director at Citizens Bank International Limited.
His extensive background has been instrumental in guiding Everest Bank through a period of significant change and growth, particularly in the post-pandemic landscape.
During his first term, Everest Bank, under his leadership, has made notable strides in enhancing its digital banking services.
The bank has been at the forefront of adopting new technologies and expanding its digital footprint, including joining the NPS-National Card Switch and Domestic Card Scheme (NEPALPAY Card) to enhance card interoperability and reduce dependency on international schemes.
This focus on digital transformation has aligned with the central bank’s push for a “Digital Payments Year” and has catered to the evolving needs of modern customers who increasingly prefer mobile and online banking solutions.
Focus on Customer Service and Expansion
Beyond digital initiatives, Mr. Khaling’s tenure has also been marked by a strong emphasis on expanding the bank’s physical network and improving customer service.
Everest Bank has continued to grow its domestic presence, opening new branches in various parts of the country to serve a broader customer base. This strategy combines a robust digital presence with a reliable physical network, providing customers with comprehensive banking solutions.
Furthermore, his leadership has been key in various corporate social responsibility (CSR) initiatives and financial agreements, such as financing the Chino Hydropower project.
These activities not only contribute to national development but also reinforce Everest Bank’s position as a socially conscious and responsible financial institution.
The bank’s commitment to service excellence has also been recognized with multiple awards, including “Best Managed Commercial Bank” accolades, which reflect the strength of its operational management and strategic direction.
The Road Ahead
Mr. Khaling’s reappointment ensures continuity in the bank’s strategic objectives. His continued presence at the helm is expected to further stabilize the bank’s operations and drive forward its long-term goals.
Stakeholders, including shareholders and customers, can anticipate that the bank will continue to innovate and expand its services under his experienced guidance.
The decision to reappoint him for a second term underscores the value of his leadership and the positive trajectory Everest Bank has taken since he first assumed office.
With the banking sector in Nepal becoming increasingly competitive and technology-driven, the continuation of a proven leader like Mr. Khaling is a significant asset.
His focus on blending traditional banking with modern digital solutions positions Everest Bank strongly for the future, ready to meet the challenges and opportunities of the evolving financial landscape.
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