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Siddhartha Bank

Swift Code of Siddhartha Bank

Swift Code Of Siddhartha Bank

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27th August 2020, Kathmandu

Siddhartha Bank[SBL] is one of the leading commercial banks of Nepal currently. It was established in 2002 AD, and it is consistently growing banks in Nepal. It has several branches spread across the country. The vision of the Bank is to be financially sound, operationally efficient, and keep abreast of technological developments. Meanwhile, let’s learn about the Swift Code of Siddhartha Bank and also find out the meaning of Swift Code, including its format in general.

What is SWIFT Code?

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 primary 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 four characters mean the Bank’s name, the next two characters represent the country, the following two characters stand for the city where the Bank is located. The last three characters represent the branch, which is optional.

Swift code of Siddhartha Bank:

Swift Code: SIDDNPKA

Head Office: Hattisar, Kathmandu

City: Kathmandu

Country: Nepal

Meanwhile, if you have any further inquiries visit the Bank’s website by clicking here. You can also visit any of the branches of the Bank throughout the country for detailed information.

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360 Transport Solutions

Siddhartha Bank Signs MOU With 360 Transport Solutions

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24th August 2020, Kathmandu

With every sector going digital, the banking sector is also not far behind. With the aim of promoting cashless transactions, Siddhartha bank signs an MOU with 360 transport solutions on 22nd August 2020.

Siddhartha Bank has taken the decision to promote an international level digital payment system in the public transport sector.

The MOU was signed by Suresh Raj Maharjan, Assistant General Manager of Siddhartha Bank and Khushal Regmi, Chief Executive Officer of 360 Transport Solutions.

This step taken by the bank aligns with Nepal Rastra Bank’s directives regarding digitization. Firstly, This will definitely promote cashless transactions. Secondly, it will create a hassle-free payment environment for the general public.

How will the payment work?

After the agreement, every vehicle under 360 transport solutions will have a POS machine of Siddhartha Bank. So, the passengers can purchase a Smart Prepaid card and make the payment easily.

The card will be available in any branches of the bank and even the public vehicles will provide the card.

This is another step towards promoting digitization in the country. Therefore, we as customers should welcome such initiatives. Apart from this, Siddhartha Bank has recently donated a huge amount for Corona Relief Fund.

Meanwhile, how do view such initiatives taken by the banking sector in recent times? Let us know in the comments.

Also read:

Siddhartha Bank Donates 2 Crore 67 Lakhs to Corona Fund

Corona Affects Siddhartha Bank; Profit Declines and EPS Shrinks

Siddhartha Bank

Siddhartha Bank Donates 2 Crore 67 Lakhs to Corona Fund

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13th August 2020, Kathmandu

Even after more than 4 months of lockdown, the transmission rate of covid19 has been increasing rapidly. Meanwhile, Siddhartha Bank donated rupees 2 crores 67 lakhs to the government’s corona relief fund.

The bank has donated the amount from its corporate social responsibility fund.

The chairman of Siddhartha Bank, Manoj Kumar Kedia handed over the amount to the finance minister Yuvraj Khatiwada. The function took place in the ministry of finance.

During the occasion, Dr. Khatiwada expressed his gratitude to the bank’s step and noted that such contribution in these dire times holds great value. He applauded this assistance as the prime example of corporate social responsibility in the current scenario. He also said that the assistance will be used in corona prevention and control.

Similarly, the bank has also provided assistance of 86 lakhs and 24 thousand to the state and local levels previously. The bank is confident that the assistance will be of some help in the prevention and control of this deadly virus.

In the current situation, the corporate sectors should definitely come forward and assist the government in any way possible. It is the need of the hour. Therefore, a huge applaud to the bank for taking this great initiative!

What do you feel about this assistance? Let us know in the comments.

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Corona Affects Siddhartha Bank

Corona Affects Siddhartha Bank; Profit Declines and EPS Shrinks

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10th August 2020, Kathmandu

There is no surprise that the coronavirus has hit hard on most of the business sectors. Siddhartha Bank Ltd also becomes one of the targets of this crisis. The bank has seen a decline in profit of Rs 16 Crore and 49 lakhs! The results were seen in comparison with the bank’s financial statement of the last fiscal year.

Siddhartha Bank published an unrevised financial statement on Monday which shows that the bank’s net profit is Rs. 2.9 billion to date. Interestingly, the bank’s net profit was Rs. 2.25 billion in the last year’s statement of the same period. Now, the bank’s distributing profit is Rs 866.40 million.

The Bank’s EPS (Earnings per Share) shrinks by Rs 4 to Rs 21.38.

Similarly, the bank’s paid-up capital remains to be Rs. 9.78 billion with a reserve fund of Rs. 5.24 billion.

In spite of the down economy, the bank managed to collect deposits of Rs 139 billion and disburse loans of Rs 123 billion. This is an increment to last year’s Rs 114 billion deposits and Rs 104 billion loans disburse.

Here is some more information from the bank’s statement.

The bad-loan ratio has increased from last year’s 0.75 percent to 1.56 percent this year.

The bank’s EPS stands at Rs. 21.39.

The PE Ratio (Price to Earning) stands at 13.84 times.

Net worth per share is Rs. 163.22.

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