Vijaya Laghubitta Bittiya Sanstha Limited Announces Chief Executive Officer Resignation
15th May 2026, Kathmandu
Vijay Laghubitta Bittiya Sanstha Limited has officially announced a significant transition within its top executive tier following the resignation of its Chief Executive Officer, Basanta Raj Lamsal.
Vijaya Laghubitta CEO Resignation
The microfinance institution revealed this leadership change after a series of corporate adjustments that took place during the final weeks of the previous Nepali month. The departure of a high level executive marks a critical turning point for the company as it navigates an evolving regulatory environment and works to maintain its operational momentum across its extensive rural network in Nepal.
Details and Board Acceptance of the Chief Executive Officer Resignation
According to the official corporate disclosure issued by the microfinance company, the outgoing Chief Executive Officer, Basanta Raj Lamsal, formally submitted his letter of resignation to the management team on Baisakh 28. Following standard corporate governance procedures, the company Board of Directors gathered for a formal assembly on Baisakh 31 to deliberate on the matter. After careful consideration of the institutional transition roadmap, the board officially voted to accept the resignation. The board resolution specifies that the executive departure will officially take effect on Jestha 8, allowing a brief window to manage administrative handovers.
Saroj Ghimire Steps Up as the New Acting Chief Executive Officer
To ensure that the daily business operations and client support services suffer no interruptions during this transitional phase, the Board of Directors acted swiftly to establish interim leadership. The board has designated Senior Deputy Chief Executive Officer Saroj Ghimire to assume the responsibilities of the Acting Chief Executive Officer position. Ghimire will hold full administrative and executive powers to oversee the company daily routines, policy implementations, and internal management functions until the board selects and appoints a permanent successor to lead the organization long term.
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Ensuring Operational Continuity and Administrative Stability
The strategic appointment of an experienced internal executive like Saroj Ghimire is intended to provide a sense of stability for both internal staff and external stakeholders. A sudden vacancy at the highest corporate level can often create friction within large financial organizations, but promoting the Senior Deputy Chief Executive Officer minimizes these risks. Ghimire deep familiarity with the company existing credit portfolios, grassroots lending strategies, and internal branch networks ensures that the transition remains smooth and that the bank core missions continue without administrative delay.
Context of the Transition Amid Major Corporate Decisions
This high profile leadership shuffle occurs at a unique juncture for Vijay Laghubitta Bittiya Sanstha Limited. The organization is currently pushing through several vital financial milestones and regulatory interactions, including recent high level board decisions regarding its dividend distribution policy and the finalization of its fiscal year financial reports. Having a clear and steady hand at the helm is crucial as the microfinance company coordinates with regulatory bodies like Nepal Rastra Bank to secure the necessary administrative clearances for its upcoming annual general meeting.
Future Leadership Recruitment and Institutional Vision
The company board has clarified that this interim leadership structure is a temporary arrangement designed to bridge the immediate gap left by the outgoing chief. The management has stated that further public updates regarding permanent executive leadership recruitment procedures and selection outcomes will be announced in due course through official media channels. In the meantime, the acting administration is expected to focus heavily on strengthening risk management, maintaining high asset quality, and supporting small scale rural borrowers who rely on the microfinance firm for essential credit services.
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