Fiscal Nepal
First Business News Portal in English from Nepal
KATHMANDU: NMB Bank has appointed Govind Ghimire as its new Chief Executive Officer (CEO), effective April 23, 2025, marking a significant leadership transition for one of Nepal’s prominent financial institutions. The decision was finalized during a board of directors meeting held on Friday, signaling a planned succession as the current CEO, Sunil KC, prepares to step down.
Ghimire, who has been serving as the bank’s Deputy Chief Executive Officer, will assume the top role on April 23 (Baishakh 10, 2082 BS), following the end of KC’s tenure on April 22 (Baishakh 9, 2082 BS). The move reflects NMB Bank’s strategy to promote from within, leveraging Ghimire’s extensive experience in the organization. KC, who has led the bank through a period of growth, will conclude his term after steering the institution until the handover date.
In a parallel appointment, the board also elevated Sudesh Upadhyay, another Deputy Chief Executive Officer, to the newly designated role of Senior Deputy Chief Executive Officer. This dual promotion underscores NMB Bank’s intent to strengthen its executive team amid Nepal’s competitive banking sector.
NMB Bank, known for its robust presence in retail and corporate banking, has not disclosed specific reasons for the leadership change, but the timing aligns with standard tenure cycles for bank executives in Nepal. Ghimire’s appointment is expected to bring continuity, given his familiarity with the bank’s operations, while Upadhyay’s promotion signals a bolstered second tier of leadership.
The announcement comes as Nepal’s banking industry faces evolving challenges, including digital transformation and regulatory pressures. NMB Bank, with its widespread branch network and focus on financial inclusion, has been a key player in the market. Ghimire’s tenure will likely be watched closely as the bank navigates these dynamics.
Neither Ghimire nor KC has commented publicly on the transition as of Sunday. The bank’s board expressed confidence in the new leadership structure, though no formal statement was released beyond the appointment details.
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