Kathmandu — Suresh Devkota, Chief Executive Officer (CEO) of Sindhu Bikas Bank, has resigned from his post. A meeting of the bank’s board of directors held on February 9 accepted his resignation.
Devkota, who was appointed CEO last year, stepped down with around three years remaining in his term. A senior chartered accountant with more than two decades of experience in the banking sector, he took charge of Sindhu Bikas Bank at a time when the institution was facing financial stress.
During his tenure, the bank recorded significant progress, particularly in the recovery of non-performing loans. The bank also saw notable improvement in its net worth per share and capital adequacy ratio. Devkota has stated that the bank prioritized the interests of depositors, strengthened creditworthiness, and placed strong emphasis on risk management and loan recovery.
Devkota began his banking career at Nepal Bank Limited and later served as Chief Investment Officer at Nabil Bank and Nepal Bangladesh Bank. He was also the founding CEO of Nabil Stock Dealer.
According to sources, Devkota tendered his resignation taking moral responsibility after the bank failed to hold its annual general meeting within the month of Poush due to internal issues among board members, despite Nepal Rastra Bank approving the bank’s financial statements for fiscal year 2081/82 on time.
Sindhu Bikas Bank is a regional development bank operating in Sindhupalchowk, Kavrepalanchowk, Dolakha, Makawanpur, and Chitwan. It currently provides banking services through 26 branch offices.
