Himalayan Bank Limited reappoints Ashok Rana as CEO for the next four years; plans to bring in CDC as major investor

Mr. Ashok Rana has been re appointed as the Chief Executive Officer of Himalayan Bank Limited (HBL) for 4 year tenure.

Mr. Rana has been in the banking sector for a period of 23 years with experience as CEO for 12 years. The new tenure will begin from the month of Baishak.

20% shares in HBL is held by Habib Bank of Pakistan. Now, after 27 years of co-operation with HBL, Habib Bank has decided to exit from the bank and disinvest. The bank now plans to bring Commonwealth Development Corporation (CDC) to fill the gap left by Habib Bank. CDC is a development finance institution owned by the government of UK.

Since, Mr. Rana has been playing the centre role to bring in CDC, his tenure as CEO of the bank has been further extended.

Prior to this, Mr. Manoj Bahadur Shrestha had already resigned as the Chairman of the Board of Directors of the bank which led to speculations of Mr. Rana leaving the bank as well.