Nabil Bank & Asian Paints to collaborate for channel financing facility
The deal was signed by Nabil Bank Chief Executive Officer Gyanendra Prasad Dhungana and Asian Paints Country Director Gopala Krishna.
KATHMANDU: Nabil Bank Limited and Asian Paints Nepal Pvt Ltd have agreed to partner on the Liebich channel finance facility.
On Monday, a bilateral agreement on channel funding cooperation was reached.
The deal was signed by Nabil Bank Chief Executive Officer Gyanendra Prasad Dhungana and Asian Paints Country Director Gopala Krishna.
Sujit Kumar Shakya, Senior Deputy Chief Executive Officer of Nabil, Binay Regmi, Deputy Chief Executive Officer of Nabil, Bhupendra Pandey, and Head of SME, Microfinance, and Sustainable Banking Niraj Basnet Danil, as well as Asian Paints Chief Financial Officer Sameer Shrestha and other Asian Paints executives, attended the event.
Under this agreement, businessmen associated with Asian Paints Nepal will be able to obtain channel financing loans from Nabil Bank’s nationwide branch networks at attractive interest rates and low mortgage ratios for the purpose of investing in working capital to expand their business.
It is said that under the main attraction of channel financing, credit facility will be available to its distributors to pay the full amount equal to the bill of goods sold. It is said that the bank will also provide other services and SME loans at concessional rates for business expansion.
Speaking about the collaboration with Asian Paints Nepal in terms of channel financing, Nabil Bank Chief Executive Officer Dhungana assured that distributors of Asian Paints who will be associated with the bank will get specialized services from the bank. He said that he will get the necessary capital for business expansion through the bank.
According to Chief Executive Officer Dhungana, the entire buy and selling payment process would be done entirely through the bank account in conformity with the existing capital loan criteria given by Nepal Rastra Bank.
