Kathmandu – Santosh Koirala, CEO of Machhapuchchhre Bank, is set to assume the presidency of the Nepal Bankers’ Association (NBA) after Prabhu Bank’s CEO, Ashok Sherchan, withdrew his candidacy. This development was confirmed following an agreement reached today, clearing the path for Koirala to lead the organization.

Traditionally, the vice president of the NBA assumes the role of president. Sherchan, who is currently the vice president, decided to step aside, adhering to this convention. Both Sherchan and Koirala had filed their candidacies for the NBA presidency last week.

The 38th General Assembly of the NBA, scheduled for December 18, will formally elect the new leadership. The outgoing president, Sunil KC, CEO of NMB Bank, was elected in 2022 for a two-year term during a special general assembly.

The current executive committee of the NBA includes:

• President: Sunil KC (NMB Bank)
• Immediate Past President: Gyanendra Prasad Dhungana (Nabil Bank)
• Vice President: Santosh Koirala (Machhapuchchhre Bank)
• Members:
  • Ashok Sherchan (Prabhu Bank)
  • Deepak Kumar De (Nepal SBI Bank)
  • Nishchal Raj Pandey (Sanima Bank)
  • Sanjiv Manandhar (Prime Commercial Bank)
  • Sudesh Khaling (Everest Bank)
  • Sundar Prasad Kandel (Siddhartha Bank)
• Advisor: Ashok Rana (Himalayan Bank).

The NBA, the umbrella organization of commercial banks in Nepal, will usher in its new leadership to address key challenges and drive initiatives for the banking sector.