Industry

Pass by the Nabil Bank's head office at Teendhara in the first hours of the day and you are greeted by a bunch of bank staffers – the majority being males – milling around in the front yard.

Get a yard or two closer to them and strike a friendly conversation as to whatever is going at soon-to-be one of Nepal's second-largest financial institutions. "We are protesting," they tell you and ask whether you are from the "media".

"Actually, we've been protesting for some time now," adds another employee.

Up at the bank's corporate offices, representatives from the employees' union are locked in intense negotiations to get the best deals for their compatriots.

A black banner dangles from the first floor demanding:

•        Immediate fulfilment of the demands submitted to the management by the employees' union

•        Guarantee of career development opportunities for employees, including improvised pay and perks

•        Guarantee of staff welfare and employees' self-confidence

The demands may appear too generic at first sight but the sub-text is clear: Give every employee a promotion across the board. A blanket promotion means more pay and perks while in-service and inflated bank deposits post-retirement, voluntary or at the end of their service period.

Nabil Bank, established in 1984 AD, is one of the largest private banks in the country. In January earlier this year, the bank signed the acquisition deal with Nepal Bangladesh Band (NBB), as Uday Krishna Upadhyay represented Nabil Bank and Indra Bahadur Thapa represented NBB.

The central bank has allowed them to start the integrated transactions from tomorrow July 11. That means NBB can start operating as Nabil Bank from this date.

The protesting employees, some serving for the last 34 years or more, appear apprehensive that they will be "left out" as the bank prepares to finish the acquisition process of Nepal Bangladesh Bank (NBB) Ltd after Nepal Rastra Bank gave a clearance recently.

"Quite a few employees have been serving in the same position for the last 10 or 15 years," according to the agitated employees. "A handful of them continue to serve in the same position for over 30 years."

The recent appointment of Gyanendra Prasad Dhungana by the bank's Board of Directors as Nabil's Chief Executive Officer succeeding its star CEO Anil Keshary Shah has apparently fueled speculations that the new CEO would protect and promote his colleagues from NBB at their expense.

Dhungana was a key player in the run-up to the acquisition, Nabil employees believe.

From tomorrow, Nabil Bank will have Rs. 43 billion in authorised capital, Rs. 22.83 in paid-up capital, Rs. 309 billion in loan amount and Rs. 320 billion in deposit amount. The number of branches will reach 235 with more than 1.6 million customers.