CIBFIN gets new leadership: Himalayan Bank chair Prabhandha Bahadur Shrestha appointed president

KATHMANDU: Prabhandha Bahadur Shrestha, Chairperson of Himalayan Bank, has been unanimously appointed President of the Confederation of Banks and Financial Institutions Nepal (CIBFIN), the apex umbrella organization representing Nepal’s banking and financial sector. The decision was taken at the 15th Executive Committee meeting of CIBFIN held on Magh 6 under the chairmanship of Acting President Rajesh Upadhyay.

The presidency had fallen vacant after former President Upendra Paudel stepped down from the CIBFIN Executive Committee following his exit from the Board of Directors of Nabil Bank after its annual general meeting held in late Poush. As per CIBFIN’s statute, the tenure of office bearers or committee members automatically ends if they cease to represent their respective banks or financial institutions at the board level.

Shrestha, a senior and widely respected figure in Nepal’s banking and financial industry, was previously serving as General Secretary of CIBFIN. With over two decades of experience in Nepal’s banking sector, his appointment is seen as a move towards institutional continuity and leadership stability at a time when the financial system is facing heightened economic and regulatory challenges.

Upon assuming office, President Shrestha expressed gratitude to the Executive Committee for entrusting him with the leadership of one of Nepal’s most influential financial-sector institutions. He pledged to preserve and build upon the institutional legacy established by CIBFIN’s founding President and current President Emeritus Pawan Kumar Golyan and immediate past President Upendra Paudel. Shrestha emphasized CIBFIN’s role as a key stakeholder in ensuring sustainable growth, financial stability, and public trust in Nepal’s banking system.

Highlighting growing risks and vulnerabilities in the banking and financial sector, Shrestha stressed that millions of citizens and the future of the national economy are directly linked to a stable and credible banking system. He stated that CIBFIN will prioritize close coordination and policy-level collaboration with the Government of Nepal, the Ministry of Finance, Nepal Rastra Bank, regulatory bodies, and the broader private sector to strengthen financial stability, enhance depositor confidence, and support long-term economic growth.

On the same day, the 16th Executive Committee meeting held under the chairmanship of President Shrestha unanimously appointed Manoj Kumar Goyal, Chairperson of NMB Bank, as General Secretary, and Raman Nepal, Chairperson of Laxmi Sunrise Bank, as Treasurer of CIBFIN for the remaining tenure.

The General Secretary position had become vacant following Shrestha’s elevation to the presidency, while the Treasurer post had remained unfilled after former NIC Asia Bank Chairperson Tulsi Ram Agrawal resigned from his bank’s chairmanship earlier.

Newly appointed General Secretary Manoj Kumar Goyal is recognized as a seasoned banker with extensive leadership experience. He has previously held senior executive and board-level positions at Nabil Bank, the former Bank of Kathmandu, Clean Energy Development Bank, and Nepal Merchant Banking and Finance Company.

Similarly, Treasurer Raman Nepal is regarded as a veteran banking professional with a distinguished career spanning regulatory and institutional leadership roles. He has served as a Director at Nepal Rastra Bank, a Board Member of the former Laxmi Bank, and Executive Director of the Citizen Investment Trust, earning a reputation as a capable administrator and experienced financial sector leader.

According to CIBFIN’s statute, vacant executive positions are to be filled from among existing committee members of the relevant group, or, if not feasible, from chairpersons of member banks and financial institutions. The latest appointments were made in full compliance with these statutory provisions.

The new leadership team is expected to play a crucial role in navigating Nepal’s banking sector through ongoing economic pressures, regulatory reforms, credit risk management challenges, and the broader agenda of financial sector resilience and sustainable economic development.