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CORPORATEPAY System

Nepal SBI Bank to Rollout CORPORATEPAY System

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13th April 2021, Kathmandu

Nepal SBI Bank Ltd. has entered into an agreement with Nepal Clearing House Ltd. to roll out the CORPORATEPAY system as a business payments platform. It will facilitate the bank’s business customers for initiating digital transactions directly from its bank accounts. The agreement was signed by Md. Rizwan Alam, Deputy CEO and Chief Financial Officer, Nepal SBI Bank Ltd., and Neelesh Man Singh Pradhan, CEO of NCHL.

The bank will provide its business customers with a digital platform of CORPORATEPAY that will be used by the businesses to initiate various payment transactions including fund transfer, salary payments, vendor or party payments, government payments, and other service payments. Such payments could be bulk or individual with beneficiary credit on a real-time or non-real-time basis, depending on whether the transactions are processed through connectIPS or NCHL-IPS clearing systems.

The customers will need to request the bank for enrollment to avail of the service, and after the necessary due diligence, access to the system is provided based on the approving authority of the users of such institutions. The transactions will then be managed completely by the business institution without the manual intervention of the bank within a transaction limit and above the limit, it has to be additionally approved by the bank. The system provides a secured mechanism of multi-layer authentication to access the system with multiple approvals for transaction authorization based on the approving authority provided by the institution. The system also provides a facility to link other bank accounts also, through respective banks, which makes the CORPORATEPAY system truly a multi-banking single platform for business customers.

Nepal SBI Bank Ltd. has been at the forefront of providing digital platforms to its customers, which it was primarily focusing on the retail customers. And now with the addition of CORPORATEPAY, the bank believes that it will help its business customers to digitize their transactions to improve its service delivery, as the need for the customers to approach bank branches will be largely reduced, once the system is fully rolled out.

Nepal SBI Bank

Nepal SBI Bank 27th AGM Approves Distribution of Dividend

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12 Janaury 2021, Kathmandu

Nepal SBI Bank Limited successfully conducted its 27th Annual General Meeting today at Tribhuvan Army Officers’ Club, Bhadrakali, and Kathmandu. The AGM approved the Director’s Report, Annual Financial Statements (Statement of Financial Position, Statements of Profit or Loss, Statement of Comprehensive Income, Statement of Cash Flow, and all the related schedules and notes to the Annual Report) for FY 2076/77 (2019/21).

The meeting resolved to approve Dividend @ 9.47% (Bonus Shares @ 6% and Cash Dividend @ 3.47%) to its shareholders.

The meeting also approved the Consolidated Balance Sheet of the Bank, including the Audited Financial Statements of the Bank’s subsidiary, i.e., Nepal SBI Merchant Banking Limited, for FY 2076/77 (2019/21).

The meeting has appointed Statutory Auditors M/s SAR Associates, Chartered Accountants for the FY 2077/78(2020/21) and ratified their fees. The meeting has also approved amendments proposed under various Clauses/Articles of Memorandum and Articles of Association of the Bank.

The meeting has also approved the resolution to Authorize the Board of Directors to enter into necessary MOU/Agreement for the merger with or to acquire other suitable Bank and Financial Institution and perform all necessary functions required for merger/acquisition.

CSR Activity of SBI Bank

Corporate Social Responsibility – Nepal SBI Bank

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26th November 2020, Kathmandu

As part of its corporate social responsibility initiative, Nepal SBI Bank provided necessary electronic items to Shree Paropakar Tatha Anusandhan Kendra Anarmani, Birtamod.

Paropakar Tatha Anusandhan Kendra is an old age home established in 2067 BS for providing shelter to elderly people. Currently, 38 people are settled in an old age home. Dipak Kumar De, Managing Director of the Bank handed over the necessary electronic items amidst a small function held at their organization to Bikram Maden (Limbu), Chairman of Shree Paropakar Tatha Anusandhan Kendra in presence of Chhapi Raj Pant, Chief Business Development Officer, Nepal SBI Bank, Manoj Chapagain, Branch Manager, Birtamod Branch and staff at the old age home.

SBI Bank Swift Code

Swift Code of Nepal SBI Bank

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25th August 2020, Kathmandu

Oftentimes a simple task of finding a bank’s SWIFT Code can become a tiring task. Through this article, you can quickly know the Swift code of Nepal SBI Bank. But before that, let’s first know what swift codes are briefly.

Swift Code, also known as BIC[Bank Identifier Code] is the international code given to the banks so that they can be identified worldwide. The major use of SWIFT code is when you want to send/transfer money internationally.

FORMAT OF SWIFT CODE:

The SWIFT code can either have 8 or 11 characters.

AAAA BB CC (123)

Here, the first 4 characters mean the Bank’s name, the next 2 characters represent the country, the next 2 characters stand for the city where the bank is located. The last 3 characters represent the branch which is optional.

Details on Swift code of Nepal SBI Bank:

Swift Code: NSBINPKA

Corporate Office: Kesharmahal, Kathmandu, Nepal

City: Kathmandu

Country: Nepal

FOR BIRGUNJ BRANCH:

Swift Code: NSBINPKA001

For further details and information, you can always visit the nearest branch or visit the bank’s website by clicking here.

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