July 31, 2014 11:36 AM ET

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Company Overview of Agricultural Development Bank Limited

Company Overview

Agricultural Development Bank Limited provides institutional credit for enhancing the production and productivity of the agricultural sector in Nepal. It offers agricultural and rural finance, commercial banking, and micro-finance services. The company was founded in 1968 and is based in Kathmandu, Nepal.

Ramshah Path

Singha Durbar

Kathmandu,  

Nepal

Founded in 1968

Phone:

977 1 4262885

Fax:

977 1 4262616

Key Executives for Agricultural Development Bank Limited

Chief Executive Officer
Chief of Finance & Account
Chief of Office of Gratuity Fund Management
Chief of Program Implementation Unit
Chief of Central Training Institute
Compensation as of Fiscal Year 2014.

Agricultural Development Bank Limited Key Developments

Agricultural Development Bank Fail To Find A Partner

Agricultural Development Bank Limited (ADBL) has been unable to find a strategic partner due to lack of interest. The government's plan to bring in a strategic partner for Agricultural Development Bank does not look like happening as there has been no takers. The international consultant could not find anyone interested in investing in the government dominated bank. The consultant said that two of the criteria inserted in the request for expression of interest had turned off applicants: Prospective partners would be allowed to hold a maximum of 30% of the shares and only banks and financial institutions could apply. The consultant has urged the Finance Ministry of Nepal and ADBL to consider loosening the restrictions by allowing divestment of all the government shares (51% stake) in ADBL to give management control to the strategic investor and to seek Nepal Rastra Bank's approval to allow non-banking financial institutions (like impact investors) to participate in the divestment transactions. Krishna Prasad Devkota, Chief of Financial Sector Management Division at Finance Ministry said, "First of all, the recommendation to revise the REOI requirements is an attempt to hide the consultant's weakness. Second, it has come a few months before the project ends which has left us without any alternative." Devkota also added that the recommendation to allow non-banking institutions to become a strategic partner may not be a good idea from the regulatory point of view. The government said that it was currently studying the consultant's advice. Devkota said, "Whether the government acts as per its recommendation may depend on whether the project is extended or not. It is not a good idea to do whatever the donor says."

Nepal Offers China Construction Bank A Stake In Agricultural Development Bank

The government of Nepal has formally asked China Construction Bank Corporation (SEHK:939) (CCB) to become strategic partner of Agricultural Development Bank Limited (ADBL) by offering a 30% stake in ADBL. The government owns 51% stake in ADBL. A negotiation team led by Krishna Prasad Devkota, Joint Secretary at the Ministry of Finance visited Beijing recently to hold talks with the top management of CCB. The team, however, failed to convince the CCB officials, according to highly-placed officials of ADBL. The government will open a global tender for strategic partner for ADBL after the meeting of privatization committee chaired by the finance minister, Devkota said. "Interest banks from across the world can submit their Letter of Intent. We held meeting with CCB officials to inform them about the government decision to induct a strategic partner in ADBL," he added. He also said the team held talks with CCB officials as per the request of the ADB.

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