Jyoti Development Bank Limited

Jyoti Development Bank Limited (also known as Jyoti Bikash Bank Limited) is a national-level development bank in Nepal. It operates under a 'B' class licence granted by Nepal Rastra Bank, the country's central bank, and is incorporated as a limited liability company under the Companies Act, 2063. The bank was originally established by a core group of promoters including employees of the Nepal Electricity Authority, entrepreneurs, and ordinary citizens, with a founding focus on promoting the hydropower sector by extending credit facilities to potential hydropower projects. Over time, it has broadened its mandate to serve a wide cross-section of society, from individuals and small and medium-sized enterprises to large corporate clients, positioning itself as a financial institution that supports national economic prosperity. The bank has grown through a series of mergers and acquisitions. In the fiscal year 2073/74 (around 2016/17), it merged with Jhirmiruk Development Bank Limited. It subsequently absorbed two regional-level development banks: Raptibheri Development Bank Limited in fiscal year 2074/75 and Hamro Development Bank Limited in fiscal year 2075/76. These consolidations expanded its branch network and customer base across Nepal. As of the most recent information available, Jyoti Development Bank operates 120 branches, including three extension counters, and provides services through a network of 64 ATMs. The bank is also expanding its digital banking product range to reach technology-savvy customers and to extend its reach through both branches and ATMs. Its initial paid-up capital was NPR 259 million, and its paid-up capital has since grown to NPR 4.26 billion. The bank describes a clear set of objectives, vision, core values, and business strategies aimed at serving citizens through all possible channels. Jyoti Development Bank is not a commercial bank in the 'A' class sense; it is a development bank, which in Nepal's regulatory framework means it can engage in certain banking activities but with a focus on development finance. Its original emphasis on hydropower financing reflects its developmental role. The bank continues to operate as an active financial institution in Nepal, with its official website at jbbl.com.np.

Jyoti Development Bank Limited was established as a limited liability company under the Companies Act, 2063, and was licensed by Nepal Rastra Bank as a national-level 'B' class financial institution under the Bank and Financial Institution Act, 2063. Its founding promoters included a core group of employees of the Nepal Electricity Authority, entrepreneurs, and ordinary citizens. The bank's original focus was on promoting the hydropower sector by providing credit facilities to potential hydropower projects, reflecting its developmental mandate. In the fiscal year 2073/74 (approximately 2016/17), Jyoti Development Bank merged with Jhirmiruk Development Bank Limited, marking the beginning of integrated operations. This was followed by the acquisition of two regional-level development banks: Raptibheri Development Bank Limited in fiscal year 2074/75 and Hamro Development Bank Limited in fiscal year 2075/76. These mergers expanded the bank's footprint and consolidated its position in Nepal's development banking sector. Over its journey of more than a decade, the bank has grown its paid-up capital from an initial NPR 259 million to NPR 4.26 billion. It has also expanded its physical network to 120 branches, including three extension counters, and operates 64 ATMs. The bank continues to invest in digital banking products to serve an increasingly technology-friendly customer base and to extend its reach through both branches and ATMs. Throughout its history, Jyoti Development Bank has aimed to serve the needs of citizens and support the national goal of bringing prosperity to people's lives.

• Merger with Jhirmiruk Development Bank Limited in fiscal year 2073/74, beginning integrated operations.

• Acquisition of Raptibheri Development Bank Limited in fiscal year 2074/75.

• Acquisition of Hamro Development Bank Limited in fiscal year 2075/76.

A national-level 'B' class development bank focused on serving citizens and supporting national economic prosperity, with a heritage in hydropower financing.

• Hydropower project financing

  Credit facilities for potential hydropower projects, the bank's original focus.

• Digital banking products

  A growing range of digital banking products to serve technology-friendly customers.

• ATM network

  Services through a network of 64 ATMs.

1. 1Jyoti Bikash Bank Limited official websitejbbl.com.np
2. 2Wikidata entry for Jyoti Development Bank Limitedwikidata.org
3. 3Nepali Wikipedia article on ज्योति विकास बैङ्कne.wikipedia.org