Civil Bank has opened its 115th branch in Mahendranagar, Kanchanpur district.

The branch was inaugurated by Bhim Dutta Municipality Mayor Surendra Bista. The number of participants in the inauguration ceremony was reduced in view of the recent outbreak of the Covid-19.

According to the bank, 115 branches across Nepal are committed to providing quality services and Civil Bank has been offering higher interest rates than the ones offered in the market in the face of the current global coronavirus epidemic.

The bank has so far provided all banking services and facilities to around 600,000 customers through 115 branches, 10 extension counters, and 86 ATMs, mobilised around Rs 92 billion in deposits, and invested over Rs 85 billion in loans. 

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There have been some major alterations in the leadership of Civil Bank.

Current Deputy Chief Executive Sunil Kumar Pokhrel has been appointed the role of CEO of the bank.

Resignation by Mr. Govinda Gurung from the position of CEO has been approved by the board of directors in a meeting held on 5th of Baisakh to be implicated from 18th Baisakh. 

Mr. Govind Gurung who took the position of Deputy Chief Executive from 21 Asoj 2069 B.S. was appointed the CEO of Civil Bank on 11 Shrawan 2074 B.S.

Through the change management, the bank has increased the volume of business by making major improvements in institutional rites, functional rites, loan quality, and institutional structures, in recent years. 

When Mr. Govinda was appointed as the CEO, the bank's deposit amount was Rs 33,81,00,00,000, the loan amount was Rs 31,19,00,00,000, inactive loan ratio of 4.66%, and branch number was 51. 

Currently bank's deposit amount is Rs 87,89,00,00,000, loan amount is 81,44,00,00,000, inactive loan ratio is 1.70% and branch number reached 114. 

Unique Finance and Hama Merchant and Finance Merger also occurred in his tenure. 

Chairman of the bank Iccha Raj Tamang and the Board of directors have expressed their appreciation and respect for all the contributions by Mr. Govinda in his tenure. 

They also congratulated Mr. Govinda for becoming the first CEO of a foreign bank in Nepal and expressed good wishes for the future.

Civil Bank Limited has introduced two new deposit schemes offering the highest interest rates, Super Premium Savings Account and Khutruke Account (Recurring Deposit).

 As per the press release issued by the bank, with a minimum balance of Rs. 25,000, the super-premium saving account will provide a 6.01% highest offering scheme. It will also provide a free medical insurance facility of up to Rs. 200,000 for critical illness coverage like cancer, migraine stroke, first heart attack, pulmonary hypertension, heart valve surgery, and coronary artery diseases. They have partnered with Metlife Insurance, as an insurance partner.

The bank will also provide free mobile banking, internet banking, ATM card, SMS banking services.

Similarly, customers who want to save in their Khutruke account (recurring deposit), can save a minimum of Rs 500 per month for a period of 2 to 10 years without paying any penalty, customers will also get a principal payment and interest after the stipulated time limit, plus 1% additional interest on the account opening than on a super-premium savings account.

In addition, the bank has been offering the highest interest rate of 8.71 percent on personal term deposits in this existing Coronavirus transition.

Civil Bank Ltd has been offering the highest interest rate of 8.71 percent on personal term deposits.

Customers will benefit from attractive interest rates than offered by other financial institutions on deposits," said Bhola Bista, bank's chief deposit, and transaction banking. By mid-July, Rs. 28.79 crore (47.88%), the bank’s growth rate has managed to increase by 29.76 percent (55.28%), which is the highest as compared to other commercial banks.

Similarly, the bank has managed to limit the non-performing loan ratio to 1.13% this fiscal year. The ratio was 2.38% in mid-July last year.

Civil Bank Limited stated that it will continue to provide more attractive service plans to its customers in the coming days. 

Providing services to 5 lakhs customers from 114 branches, Civil Bank now has a total of 7 extension counters in operation 4 of which are there to collect the Nepal government’s taxes and revenues. Also, 89 ATMs are in operation under the bank. Till now the bank has more than Rs 81 Billion operational deposits and has loaned out more than Rs. 74 Billion.

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