Siddhartha Bank

What Siddhartha Bank does

Siddhartha Bank Limited is a privately-held commercial bank headquartered in Kathmandu, Nepal, founded in 2002. It operates a multi-segment banking franchise spanning retail/individual banking, corporate banking, SME banking, and micro/rural banking, with specialized franchises for women (Nari Bachat Khata, Mahila Samriddhi Karja, Nari Debit Card) and senior citizens (Jestha Nagarik Bachat Khata). Its customer-facing technology stack includes BankSmart XP (mobile banking with biometric login and dual SMS/GPRS channels), Bank Ex (corporate internet banking with multi-user authorization), Video Banking for remote KYC and account opening, Smart Teller for cardless cash withdrawal, Cash Deposit Machines, and a QR payment system accepted at 50,000+ merchant outlets via Fonepay integration.

The bank's revenue model is anchored on interest spread on its loan book (disclosed spreads of ~3.62%-4.39%) across home, auto, education, personal, SME, corporate, and trade finance products, supplemented by transaction and service fees (ATM, IPS, RTGS, trade services), card revenue (joining, annual, transaction fees across Platinum, Standard, Uno, Fonepay Virtual, debit, and prepaid cards), forex exchange margin, and remittance fees. Distribution combines physical branches and ATMs with digital self-serve channels, branchless banking (Sajilo Banking) for rural reach, and a 177-partner discount network for customer engagement. International remittance is a distinctive growth lever, anchored by a Japan-Nepal corridor via Banco do Brasil (75,000+ ATMs) and a Nepal-India cross-border UPI-NPI integration targeting an estimated $1.5-2 billion annual flow. The bank sits within a broader Siddhartha Group that includes Siddhartha Capital (investment services), Siddhartha Insurance, and Sanima Reliance Life Insurance, enabling cross-sell across deposits, lending, cards, payments, and wealth/insurance.

Name

Siddhartha Bank

Legal name

Siddhartha Bank Limited

Website

https://siddharthabank.com

Company type

Private

Founded year

2002

Operating status

Operating

Headcount range

51–100 employees

Short description

Siddhartha Bank is a private commercial bank in Nepal offering retail, corporate, SME, and micro banking through branches, digital channels (BankSmart XP, video KYC, QR payments), and international remittance corridors including Japan and India.

Ownership category

akta.pro rank

Product category

Commercial Banking

NAICS

Depository Credit Intermediation (5221), Credit Card Issuing (52221), Credit Intermediation and Related Activities (522)

SIC

State Commercial Banks (6022), Short-Term Business Credit Institutions (6153)

akta.pro primary industry

Multi-Currency Accounts, Wallets & IBAN Services (FSAMAIAG)

akta.pro secondary industries

QR Code Payments Wallets (FSAMAEAC), Private Credit — Trade Finance & Receivables Finance (FSAHAJAK)

Keywords

• Commercial banking services
• Retail deposit products
• Corporate trade finance
• SME micro lending
• International remittance services

Headquarters

HQ city

Kathmandu

HQ country

Nepal

HQ region

Asia

Offices2 records

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

Personnel, Operations, Technology or R&D, Infrastructure, Marketing or Sales, Supply Chain, Others

Revenue model

1. Interest Income: Primary revenue from interest spread on loans including home loans, auto loans, education loans, personal loans, SME loans, corporate banking facilities, and trade finance. Interest spread rates range from approximately 3.62% to 4.39% as per NRB disclosures.
2. Transaction & Service Fees: Fee income from ATM transactions, card services (debit/credit cards), wire transfers (IPS, RTGS), trade finance services (letters of credit, bank guarantees), and account services.
3. Card Services: Annual fees, joining fees, and transaction fees from credit cards (Platinum, Standard, Uno, Fonepay Virtual), debit cards, and prepaid travel cards.
4. Forex Exchange: Revenue from foreign exchange transactions including USD, EUR, INR, and other currencies with spread between buying and selling rates.
5. Remittance Services: Fee income from inbound international remittances including Japan-Nepal corridor through Banco do Brasil partnership, and India-Nepal digital remittance platform.

Pricing tiers

Go-to-market motion3 records

Distribution channels8 records

Marketing channels6 records

Core offering

Siddhartha Bank is a privately held Nepali commercial bank providing a full suite of retail, corporate, SME, micro, and remittance banking products including savings and current accounts, fixed deposits, home/auto/education/personal/SME loans, trade finance, credit/debit/prepaid cards, digital banking (BankSmart XP, Bank Ex, video banking, QR payments, Smart Teller), international remittances, and financial-inclusion programs for women, senior citizens, and rural customers. The bank operates branches, ATMs, CDMs, branchless banking agents, and discount partner merchants across Nepal.

Product overview

Siddhartha Bank is a commercial bank headquartered in Kathmandu, Nepal, offering a comprehensive, multi-channel banking portfolio. The product suite is organized across several pillars: (1) Retail Banking — savings accounts (Goal Saver, Gen-Z, Nari Bachat, Jestha Nagarik, Mero Share, Super/Smart Salary, Pay and Save, Platinum tiers, Bal Bachat, Sajilo, Social Security), fixed and current deposits, and retail loans (home, auto, education, personal, QR loan, loan against shares/FD, women-focused Hamro Ghar Karja); (2) Credit Cards — flagship Platinum Credit Card, Standard, Uno, Co-branded, Fonepay Virtual, NMA, NYEF, Rotary, and Round Table Nepal variants plus debit cards including Platinum, Nari, and personalized Mero Chitra; (3) Prepaid/Travel Cards — E-Com, standard Prepaid, and International Travel Cards; (4) SME/Corporate Banking — SME Loans, women-focused Mahila Samriddhi and Mahila Udhyamshil, Saral SME, Agriculture/Livestock, Oxygen Loan, plus Corporate Banking covering working capital, term loans, import/export loans, bills discounting, and consortium financing; (5) Trade Finance — letters of credit, documentary collection, forward contracts, pre/post-shipment loans; (6) Digital Banking — BankSmart XP (mobile/internet banking), Bank Ex (corporate internet banking), Smart Teller (cardless cash withdrawal), Corporate Pay, POS Merchant, QR Merchant, and Video Banking (KYC/account activation/guarantee verification); (7) Remittance — SBL Remit, IPS, RTGS, and Banco do Brasil (Japan-Nepal corridor); (8) Other Services — locker service, auction portal, loan calculators, bank guarantee verification. The bank operates 177 discount partners and is connected to Fonepay, Visa, SWIFT, IPS, ConnectIPS, NPCI, and Mero Share for broad financial ecosystem connectivity.

Differentiator

Problem solved

Functional benefit

Brands

• BankSmart XP: Mobile banking application providing digital banking services including fund transfers, bill payments, and QR payments
• SBL Remit
• Sajilo Banking
• Banco do Brasil Remittance Card

Products and services

• Siddhartha Remit Account Savings account for individuals going abroad or receiving remittances; zero balance opening, attractive daily-balance interest, free cheque book and ABBS, and no withdrawal/deposit restrictions.
• SBL Premium Remit Saving Account Exclusive premium savings account tailored for individual remittance recipients, offering enhanced features and benefits.
• Siddhartha Nari Bachat Khata Savings account specifically designed for women, offering zero balance opening and relatively higher interest rates on daily balance.
• Siddhartha Gen-Z Saving Account Smart savings account targeting the Gen Z demographic with features and benefits tailored for young, digitally-savvy customers.
• Siddhartha Jestha Nagarik Bachat Khata Savings account for individuals aged 50 and above, offering zero balance opening, no withdrawal restrictions, free statements and ABBS, 365-day banking, evening counter services, and priority locker access.
• Siddhartha Goal Saver Account Recurring deposit product designed to help customers save systematically toward specific financial goals, available for online account opening.
• Siddhartha Muddati Khata (Fixed Deposit) Fixed deposit account for both individuals and organizations, offering guaranteed returns with fixed interest rates over a defined period.
• Sajilo Bachat Khata Savings deposit account designed to onboard maximum people with simplified requirements and accessible features.
• Siddhartha Bank Home Loan Affordable and flexible home loan for purchasing land, buying or building homes, with features tailored for residential property financing.
• Siddhartha Bank Auto Loan Vehicle financing loan designed to help customers purchase cars or other vehicles with flexible repayment options.
• Siddhartha Bank Education Loan Education financing loan supporting students and families with funding for tuition and related educational expenses.
• Personal Loan Personal financial loan designed to facilitate diverse personal financial needs of bank customers with flexible terms.
• Siddhartha QR Loan Quick processing digital loan for Siddhartha Bank QR merchants to meet short-term cash requirements; collateral-free, EMI-based repayment, NPR 20,000 to NPR 500,000.
• SME Loan Financial support product for small and medium-sized businesses to start, expand, or manage their enterprises.
• Siddhartha Mahila Samriddhi Karja Loan product designed to empower women entrepreneurs with targeted financing to grow their businesses.
• Corporate Banking Comprehensive corporate banking services including working capital loans, term loans, import loans, export loans, bills discounting, consortium financing, and bridge gap financing for businesses in Nepal.
• Trade Finance International trade services including advance payments, documentary collection, import and export letters of credit, forward contracts, pre-shipment and post-shipment loans, and document negotiation.
• Siddhartha Platinum Credit Card Flagship credit card product offering premium benefits, revolving credit facility, and privileges through the Club Siddhartha merchant network.
• Siddhartha Fonepay Credit Card (Virtual Credit Card) Nepal's first virtual credit card launched in collaboration with Fonepay; fully digital, instant issuance via BankSmart XP, designed for QR payments at Fonepay merchants; interest-free period up to 45 days; joining fee NPR 750, annual fee NPR 750.
• Platinum Debit Card VISA Platinum Debit Card offering versatile banking access at ATMs and POS terminals, with enhanced daily and monthly transaction limits.
• Nari Debit Card Debit card tailored specifically for Nari Bachat Khata account holders, promoting women's financial inclusion with a cause-driven approach.
• Prepaid Card Plastic prepaid card issued against load value, usable for purchases and cash withdrawals up to the loaded amount.
• E-Com Card International prepaid card for online purchases, providing secure digital payment capabilities without requiring a bank account.
• BankSmart XP (Mobile Banking) Unified mobile and digital banking platform combining mobile banking, internet banking, and digital payments in one app; supports SMS and GPRS dual-channel access, biometric login, instant fund transfers, wallet loading, utility bill payments, QR payments, and merchant payments.
• Video Banking Solutions Video KYC service enabling customers to verify identity, activate accounts, complete DEMAT account activation, and conduct personal guarantee verification via video call without visiting a branch.
• Bank Ex (Internet Banking) Internet banking application for corporate clients providing fund transfers, IPS requests, salary management, statement generation, and balance inquiry; features multiple user creation and input/approve authorization workflows.
• Smart Teller Cardless cash withdrawal service via BankSmart V5 QR facility at branch counters; customers scan a QR code, select account, enter amount, confirm, and receive cash without a card or cheque.
• QR Merchant Cashless QR code payment solution allowing merchants to accept payments via mobile banking app scanning, available at more than 50,000 merchant outlets in Nepal through Siddhartha Bank Smart mobile banking.
• Corporate Pay Digital payment platform for corporate clients accessible through ConnectIPS, enabling business payment services and fund management.
• Banco do Brasil Remittance Card (Japan-Nepal) Remittance card in partnership with Banco do Brasil enabling Nepali workers in Japan to send money to Nepal via Seven Eleven, Seven Bank, JP Post Bank, Sumitomo, and AEON Bank ATMs (75,000+ terminals); funds credited to Siddhartha Bank accounts in Nepal.
• Branchless Banking (Sajilo Banking) Branchless banking service extending financial services to underserved and remote areas without traditional branch infrastructure, through a network of correspondent agents.
• Siddhartha Platinum Bachat Khata Premium savings deposit account with enhanced features and benefits, can be opened with zero minimum balance.
• Siddhartha Platinum Plus Saving Account High-tier savings account offering the highest level of savings benefits and features from Siddhartha Bank.
• Siddhartha Bal Bachat Khata Children's savings account allowing parents to save for their children's future with child-friendly features.
• Siddhartha Pay and Save Account Unique savings product allowing parents to make small savings for their children in a structured, goal-oriented manner.
• Siddhartha Super Salary Account Payroll deposit account offered by Siddhartha Bank for companies and their employees, facilitating convenient salary credit and banking services.
• Demat Account (through Siddhartha Capital) Online demat account opening through Siddhartha Capital for holding and managing securities and investments in electronic form.
• Social Security Saving Account Savings account for Nepalese nationals providing social security scheme benefits alongside banking services.
• Locker Service Safe deposit locker service for customers to securely store valuables, documents, and assets at bank branches.

Quantifiable outcome

• 50,000+ merchant outlets accepting QR payments
• +2 more outcomes

Named customers6 records

Segments7 records

Ideal customer profiles4 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration10 records

Feature6 records

Partnerships

Eight partnerships are on record, tiered core and adjacent.

• Genese SolutioncoreStrategic or Co-development Partner · 11 June 2025UK-headquartered cybersecurity and digital transformation firm partnered with Siddhartha Bank to deliver a Cybersecurity Awareness Program for managerial-level staff on June 11, 2025, in Kathmandu. The three-hour workshop covered ransomware, phishing, supply chain vulnerabilities, compliance frameworks, and real-world breach case studies including the Laxmi Sunrise Capital incident and CrowdStrike outage. Initiative aims to strengthen bank's cyber-resilient culture.
• Banco do BrasilcoreChannel Partner/ Reseller/ DistributorPartnership enables Nepalese in Japan to send remittances to Nepal through Banco do Brasil's network of 75,000+ ATM terminals at Seven Eleven, Seven Eleven Bank, JP Post Bank, Sumitomo, and AEON Bank. Remittance card holders can transfer funds directly to Siddhartha Bank accounts. Contact details provided for both Nepal (+9779844243838) and Japan (03-32136515).
• FonepaycoreTechnology or IntegrationNational QR payment network integration enabling Siddhartha Bank customers to make and receive QR-based payments at Fonepay merchant network across Nepal. Partnership also includes Siddhartha Fonepay Virtual Credit Card - Nepal's first digital credit card launched in collaboration with Fonepay.
• Siddhartha CapitalcoreOthersSubsidiary company providing investment services including Demat account opening, Mero Share (stock trading platform), mutual funds, and wealth management. Integration with BankSmart XP for seamless customer experience.
• Siddhartha InsuranceadjacentOthersRelated company (Siddhartha Group) providing insurance products and services to bank's customer base.
• Sanjiva Reliance Life Insurance (SReliance)adjacentOthersRelated life insurance company offering life insurance products through bank's distribution network.
• NPCI (National Payments Corporation of India)coreTechnology or IntegrationIndian payment infrastructure provider enabling cross-border digital remittance service between Nepal and India. Connects Nepal's National Payments Interface with India's Unified Payments Interface for direct person-to-person transfers with transaction limits of INR 200,000 (India to Nepal) and INR 15,000 (Nepal to India).
• Nepal Rastra Bank (NRB)coreOthersCentral bank of Nepal serving as regulatory authority. Implements cross-border payment initiatives including Nepal-India digital remittance platform to formalize cross-border payments and reduce informal transfer networks like hundi.

Scale indicators5 records

Recent moves6 records

Expansion highlights5 records

Direct peers

• Citizens Bank International: Citizens Bank International is a Nepal-based private commercial bank with retail, corporate, SME, and digital banking products; a directly comparable peer in the same tier.
• Himalayan Bank: Himalayan Bank is a Nepali private commercial bank with comparable retail, corporate, and remittance offerings; a like-for-like competitor with international remittance focus.
• Everest Bank: Everest Bank is a Nepal-based private commercial bank with full-service retail, corporate, and digital offerings; a directly comparable mid-to-large tier private bank.
• Sunrise Bank: Sunrise Bank is a Nepali private commercial bank offering retail, corporate, and digital banking services; a directly comparable peer with similar product breadth.
• Kumari Bank: Kumari Bank is a Nepali private commercial bank offering retail, corporate, SME, and digital banking services; a directly comparable mid-tier competitor in the same market.
• Sanima Bank: Sanima Bank is a Nepali private commercial bank with similar retail, corporate, SME, and digital banking products, and is part of the same Sanima Group ecosystem; directly comparable scale and segment focus.
• NIC Asia Bank: NIC Asia is a leading Nepali private commercial bank with a comparable retail, SME, corporate, and digital banking product set, and similar remittance and card offerings.
• Nabil Bank: Nabil Bank is one of Nepal's largest private commercial banks offering retail, corporate, SME, and digital banking services; closely comparable full-service competitor with broader branch reach.
• Prime Commercial Bank: Prime Commercial Bank is a Nepali private commercial bank with similar full-service retail and corporate offerings; a directly comparable mid-tier competitor.
• NMB Bank (Nepal Merchant Banking): NMB Bank is a Nepali private commercial bank providing retail, corporate, SME, and microfinance services; a like-for-like competitor on product breadth and segment coverage.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat5 records

Key risks6 records

Key highlights6 records

Customer concentration

• Xx.com/SiddharthaBank
• Facebookfacebook.com/SiddharthaBankLtd
• LinkedInlinkedin.com/company/siddharthabanklimited

Revenue estimate

Valuation estimate

Number of profiles

Profiles2 records

Subsidiaries3 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments1 record

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Siddhartha Bank