KATHMANDU: During the past six years, the landscape of commercial banking in Kathmandu has undergone a significant transformation, marked by a staggering increase of 2,000 branch offices.

Recent data released by Nepal Rastra Bank (NRB) illustrates this growth vividly.

In 2018, the count stood at 3,024 branches, soaring to an impressive 5,036 by 2024.

Leading the charge is NIC Asia, boasting a formidable 476 branches, the highest among its peers.

On the other end of the spectrum, Standard Chartered Bank maintains a modest 15 branches, according to the latest figures from Nepal Rastra Bank as of February 15.

Following NIC Asia, Global IME Bank emerges as a close contender with 420 branch offices, securing its position as the second-largest network.

Prabhu Bank, Kumari Bank, Rastriya Banijya Bank, Nepal Investment Mega, and Laxmi Sunrise Bank follow suit with 371, 354, 346, 335, and 302 branches respectively.

However, the survey reveals that many banks have yet to breach the 300-branch milestone.

Nepal Bank and Nabil Bank lead this cohort with 288 branches each, followed by Krishi Bikash Bank with 287 branches.

Other notable institutions include NMB, Siddhartha Bank, Himalayan Bank, Citizens Commercial Bank, Prime Commercial Bank, Machhapuchhre Bank, Sanima Bank, Everest Bank, and Nepal SBI Bank, with branch counts ranging from 133 to 197.

Province-wise, Bagmati emerges as the frontrunner in terms of branch presence, while Karnali province lags behind with the fewest branches.

As of mid-2023, this discrepancy highlights the varying regional dynamics within the banking sector.