Prabhu Bank CEO Appointment of Suman Sharma Approved
3rd February 2026, Kathmandu
Prabhu Bank Limited has officially confirmed the appointment of Suman Sharma as its new Chief Executive Officer, ushering in a fresh chapter of governance for the prominent Class A commercial bank. The decision was formalized during the 410th meeting of the bank’s Board of Directors held on Magh 20, 2082 (February 3, 2026). Sharma’s appointment is set for a four year term, filling the vacancy created by the recent resignation of the previous CEO, Ashok Sherchan.
Prabhu Bank CEO Appointment
This swift transition underscores the bank’s commitment to maintaining leadership continuity, particularly following a brief period of interim management. Suman Sharma, a seasoned banking professional with nearly three decades of experience, assumed his duties immediately upon the boards approval.
Professional Profile of Suman Sharma
The appointment of Suman Sharma is viewed as a strategic move to bolster the banks operational integrity and market position. Sharma is widely recognized in the Nepalese financial sector for his expertise in risk management, strategic planning, and credit administration.
Key highlights of his professional background include:
Educational Excellence: He is a double postgraduate in Physics and Economics from Tribhuvan University and holds an MBA from the Maastricht School of Management, Netherlands. He has been honored with the Mahendra Vidya Bhushan for his academic achievements.
Leadership History: Sharma previously served as the CEO of Sunrise Bank and Machhapuchchhre Bank Limited. He also held the position of Deputy CEO at Global IME Bank Limited.
Career Foundation: He began his extensive banking journey at Nepal SBI Bank and spent over a decade at NMB Bank in various core banking roles.
Context of the Leadership Change
The Prabhu bank ceo appointment follows a high profile leadership exit. Former CEO Ashok Sherchan submitted his resignation on Magh 19, 2082, which was promptly accepted by the board. During the short gap between the exit and the new appointment, the bank’s operations were overseen by Acting CEO Neeraj Lamsal, who had been managing the executive responsibilities since late 2025.
By appointing Sharma just one day after Sherchans resignation was approved, Prabhu Bank has minimized the “leadership vacuum” that can often lead to market speculation. This proactive approach is designed to reassure depositors, shareholders, and the Nepal Rastra Bank (NRB) of the institution’s stability.
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Strategic Mandate and Responsibilities
As Suman Sharma takes the helm of Prabhu Bank for the next four years, his mandate is clear: navigate the institution through an evolving regulatory landscape while driving sustainable growth. His core responsibilities will encompass:
Operational Excellence: Streamlining the bank’s vast network of over 300 branches to enhance customer service efficiency.
Risk Mitigation: Leveraging his deep expertise in credit and risk management to strengthen the bank’s balance sheet and manage non performing loans.
Digital Transformation: Accelerating the adoption of modern fintech solutions to compete in a rapidly digitizing economy.
Regulatory Compliance: Ensuring strict adherence to the Unified Directives of Nepal Rastra Bank and other prevailing financial laws.
The bank’s board has expressed strong confidence that Sharma’s diverse experience across multiple top tier banks will be instrumental in elevating Prabhu Bank’s performance metrics and corporate image.
Impact on Stakeholders and the Banking Sector
The Prabhu bank ceo appointment is expected to have a stabilizing effect on the bank’s stock performance on the Nepal Stock Exchange (NEPSE). Investors typically favor clear leadership transitions, and Sharma’s reputation as a “low profile, high performance” executive is likely to build trust among the investor community.
For employees, the four year tenure provides a predictable framework for internal policy implementation. For customers, the appointment signifies that the bank’s strategic focus on retail and corporate banking remains a top priority under a leader with a proven track record in these areas.
Conclusion
The appointment of Suman Sharma as the CEO of Prabhu Bank Limited marks a definitive step toward institutional maturity and governance excellence. With his formal entry into office on Magh 20, the bank has effectively closed a chapter of leadership uncertainty. Sharma’s blend of academic rigor and decades of practical banking experience positions him as a capable pilot to guide Prabhu Bank through the challenges and opportunities of the coming years.
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