Kumari Bank Limited signed a Memorandum of Understanding (MOU) with the Deposit and Credit Guarantee Fund (DCGF) to secure loans under ‘KBL Smart Business Loan for IT Sector’.
As per this agreement, DCGF shall secure the portfolio of IT sector loans provided by Kumari Bank under a special SME/MSME segment loan tailored for IT sector companies, “KBL Smart Business Loan for IT Companies.”
This agreement is considered a milestone for both parties in terms of promoting access to finance among IT companies. Kumari Bank Limited has been working at various levels to establish itself as a leader in the banking sector to service the IT sector in due consideration of the intricacies of the sector. Kumari Bank Ltd. has been working in partnership with NEPAL ASSOCIATION FOR SOFTWARE AND IT SERVICES COMPANY (NAS-IT), where the bank has been providing real estate collateral-free loans to NAS-IT member companies. Also, the bank is collaborating with USAID Trade and Competitiveness, which has been working on promoting professional competencies and enabling the capacities of IT companies through technical expertise.
The MOU was signed by Mr. Ram Chandra Khanal, Chief Executive Officer, Kumari Bank, and Mr. Ramesh Ghimire, Chief Executive Officer, Deposit and Credit Guarantee Fund (DCGF).
Kumari Bank is committed to simplifying the banking process, increasing access, and delivering excellence in customer service with its extensive network of 309 branches (excluding the head office), 49 extended counters, 314 ATMs, and 64 branchless banking units across the country.