Banking, Finance and Insurance

Forecasting that the financial services sector would have a tremendous growth potential in the 21st century, Sarda Group took a strategic decision in the late-1990s to build its presence in this sector. While all these companies are jointly promoted by a mix of local corporate houses, in all instances Sarda Group has been the lead promoter and has been actively involved in all stages of establishment and development of these ventures.

The group chairman Nand Kishor Sarda and directors Shyam Sunder Sarda and Mahesh Sarda are promoters of Nepal Merchants Bank, Kumari Bank and Asian Life Insurance Company Ltd.

Nepal Merchants Bank (www.nmb.com.np)
NMB commenced business operations in December 1996 and is promoted by leading corporate houses and financial institutions, of which Sarda Group is a major stakeholder.

    NMB's activities are centered around three divisions:
  • Merchant Banking Division: NMB is active in both the primary and secondary markets. The Merchant Banking Division is responsible not just for underwriting of equities, but also for the management of individual and company portfolios.
  • Corporate Finance Division: This division is primarily involved in providing project evaluation services to NMB and its clients. It provides comprehensive services ranging from day to day project analysis to corporate mergers, acquisitions, and medium term debt finance and venture capital/equity finance.
  • Credit and Finance Division: The Credit and Finance Division advise corporate and retail clients on all issues of funded and non- funded requirements. Some of the products offered are HP, term EC, loans, guarantees, etc. This division is also instrumental in mobilizing resources from various sectors to finance the cash requirements of the company.
    With a broad basket of products and services that NMB has been able to offer to its clients, the company has grown into one of the major market players in the country's financial market.

Kumari Bank (www.kumaribank.com)
Kumari Bank Limited came into existence as the fifteenth commercial bank of Nepal by starting its banking operations from 2001 with an objective of providing competitive and modern banking services in the Nepalese financial market. The bank has paid up capital of Rs. 750 million, of which 70 % is jointly contributed from the group and other investors and remaining from public.

The bank has been able to get recognition as an innovative and fast growing institution striving to enhance customer value and satisfaction by backing transparent business practice, professional management, corporate governance and total quality management as the organizational mission.

Asian Life Insurance Company Ltd (www.asianlife.com.np )
Asian Life Insurance Company Ltd has got operating license as per Insurance Act 2049 from Beema samiti in 2064/11/15. After 5 years in Nepalese Life Insurance Business, Asian Life Insurance Company is the first Life Insurance Company to receive operating License from Beema Samiti. In line with its vision to be the No.1 Life Insurance Company in Nepal.

The Authorized Capital of the Company is Rs. 500 million. The Issued capital is Rs. 360 million on which seventy percent (70%) is fully paid by promoters and rest 30% has been issued to general public. Asian Life Insurance Company has got operating license as per Insurance Act 2049 from Beema samiti in 2064/11/15. After 5 years in Nepalese Life Insurance Business, Asian Life Insurance Company is the first Life Insurance Company to receive operating License from Beema Samiti.

In spite of above institutional investors there is past governors of Nepal Rastrya Bank, past Industrials secretary of Nepal Government, Past directors and chief of insurance companies, Directors and Managers of Banks and finance companies and more than 30 years experienced personal from life Insurance business.

Asian Life has done reinsurance agreement with the reputed reinsure company of Asia called SCOR Global Re-insurance Company of Singapore.