KATHMANDU: Nabil Bank Ltd. and Asian Paints Nepal Pvt. Ltd. have joined forces in a strategic partnership to offer Channel Financing Facility to Asian Paints' dealers. The agreement was officially signed on Monday, with Chief Executive Officer Gyanendra Prasad Dhungana representing Nabil Bank and Country Director Gopalakrishanan G. representing Asian Paints.
The signing ceremony was attended by several key executives from both organizations, including Nabil Bank's Senior Deputy Chief Executive Officer Sujit Kumar Shakya, Deputy Chief Executive Officers Binay Kumar Regmi and Bhupendra Pandey, as well as Chief SME, Microfinance, and Sustainable Banking Niraj Basnet Danil. Asian Paints was represented by its Chief Financial Officer Sameer Shrestha and other senior officials.
Under this partnership, Nabil Bank will provide Channel Financing Facility to Asian Paints' dealers, ensuring attractive pricing and reduced collateral requirements. The primary benefit of this facility is that it enables channel principals to receive the full value of bills issued to their dealers through bank financing. Additionally, channel partners can take advantage of various other services and loan facilities to fulfill their financing needs.
Speaking about the collaboration, CEO Dhungana emphasized that Nabil Bank aims to assist associated dealers of Asian Paints Nepal in effectively managing their working capital and cash flow shortages through Channel Financing loans. This initiative aligns with the Working Capital Loan Guidelines recently implemented by Nepal Rastra Bank. The bank is committed to providing specialized services to dealers to enhance their business operations and promote the sustainability of SMEs.
This strategic partnership between Nabil Bank and Asian Paints Nepal is expected to strengthen the financial support available to Asian Paints' dealers, facilitating their growth and success in the market.
