The devastating floods in the Bhotekoshi River in Nepal have also caused significant damage to the banking system in Nepal especially in Rasuwa and Nuwakot districts. The floods completely destroyed 17 branches of 11 commercial banks. These branches had deposits of about 43.5 billion Nepali rupees and loans of 24.2 billion Nepali rupees. These branches have 73,275 deposit accounts and 2,125 loan accounts attached to them.
The affected banks are Machhapuchchhre, Nabil, Sanima, Laxmi Sunrise, Himalayan, Prabhu, Global IME, Nepal Investment Mega and NMB Bank.
35 bank employees were out of contact after the floods. This includes 27 commercial bank employees, 6 microfinance employees and two employees who were on a field trip. Banks and financial institutions have been sharing photographs and identifying information of these missing employees on social media since Thursday to help locate them.
Nepal Bankers’ Association chairman Santosh Koirala said several bank employees working at the affected branches were out of contact.
Read official statement from Nepal Bankers’ Association
The Nepal Bankers’ Association expresses deep sorrow over the loss of human lives and damage to property and physical infrastructure caused by the recent floods and natural disasters in Rasuwa and other districts. The Association extends heartfelt condolences to the families who have lost their loved ones in this disaster and wishes them strength and courage to move forward during this difficult time.
We have received information that most bank employees working in the flood-affected districts are safe, although some employees have not yet been contacted. Some bank branches in the flood- and landslide-affected districts have also been affected. In addition, banking services in the affected areas have faced challenges due to disruptions to electricity, internet, and communication services. Nevertheless, banks are making every possible effort to maintain continuity of services by making maximum use of available resources, facilities, and alternative arrangements, and to provide necessary assistance to affected customers. The Nepal Bankers’ Association is also working in coordination and cooperation with the Government of Nepal, Nepal Rastra Bank, and other concerned authorities during this disaster.
The banking sector of Nepal remains fully committed to supporting the Government of Nepal in its relief, rescue, and reconstruction efforts during these difficult circumstances. The banking sector will contribute as much as possible to provide necessary support to affected employees, their families, and the general public.
The Nepal Bankers’ Association expresses its commitment to coordinate with its member banks, in cooperation with the government, for relief, rescue, continuity of services, and reconstruction, and to provide the necessary support and facilitation.
