15th August 2025, Kathmandu
In a significant move set to bolster Nepal’s financial sector and empower a wider customer base, Global IME Bank Limited and Shangri-La Development Bank Limited have officially entered into a strategic collaboration.
The two leading financial institutions have signed a Memorandum of Understanding (MoU) to extend a comprehensive suite of non-fund-based banking facilities to Shangri-La Development Bank’s customers, leveraging Global IME Bank’s extensive network and expertise.
The landmark agreement was formalized with the signatures of Surendra Raj Regmi, CEO of Global IME Bank Limited, and Suyog Shrestha, CEO of Shangri-La Development Bank Limited. This partnership is a testament to the growing trend of inter-bank cooperation in Nepal, aimed at providing enhanced services and fostering a more robust and inclusive financial environment for businesses and individuals alike.
Under the terms of the MoU, Global IME Bank will provide crucial non-fund-based facilities to Shangri-La’s clients, including but not limited to, Letters of Credit (LC), bank guarantees, documents against payment (DP), documents against acceptance (DA), and a full range of trade transaction banking services.
These services are vital for businesses, particularly those engaged in domestic and international trade, as they facilitate secure transactions and reduce risk without the immediate transfer of funds. For many businesses, particularly Small and Medium Enterprises (SMEs) operating in rural and semi-urban areas, accessing such specialized banking products can be challenging.
This collaboration effectively bridges that gap, allowing Shangri-La Development Bank’s customers, who are served through its 109 branches and 30 ATMs nationwide, to benefit from the advanced capabilities of a large commercial bank. It is a win-win situation that not only enhances the service offerings of Shangri-La Development Bank but also extends Global IME Bank’s reach and influence in the market.
This strategic partnership further solidifies Global IME Bank’s position as a leader in the Nepali banking sector. The bank has been consistently recognized for its excellence, having been named Nepal’s Best Bank by Global Finance in both 2024 and 2025.
This back-to-back recognition highlights the bank’s commitment to strong performance, credibility, and innovative customer-centric services. Furthermore, Global IME Bank was also honored with two prestigious awards from the Euromoney Awards for Excellence in 2024, a testament to its operational and financial prowess.
Global IME Bank is a pillar of the Nepalese financial landscape, holding the distinction of being the first private sector commercial bank with a branch network spanning all 77 districts of the country. Its vast network includes 352 branch offices, 384 ATMs, 155 branchless banking services, 68 extension and revenue collection counters, and three international representative offices.
With more than 1,000 service centers, the bank’s operational footprint is unparalleled, ensuring that a wide range of financial services are accessible to people in every corner of Nepal. In addition to its domestic dominance, Global IME Bank plays a pivotal role in connecting Nepalis with the global economy.
The bank provides essential remittance services from a wide array of countries, including the USA, UK, Canada, Australia, Malaysia, South Korea, Japan, Saudi Arabia, Qatar, UAE, Bahrain, Kuwait, India, Jordan, and many others. This service is crucial for a large segment of the Nepali population, supporting families and contributing significantly to the national economy.
The collaboration with Shangri-La Development Bank is a strategic move that aligns with Global IME Bank’s mission to drive financial inclusion and provide a complete range of banking solutions. By enabling a development bank to offer these sophisticated services, Global IME is not only helping Shangri-La compete more effectively but also contributing to the overall development and maturity of Nepal’s financial market.