Nepal Rastra Bank Selects KPMG India for First-Ever Loan Portfolio Review of Major Commercial Banks

Nepal Rastra Bank (NRB) has, for the first time, selected an Indian audit firm, KPMG Assurance and Consulting Services LLP, to conduct a comprehensive Loan Portfolio Review (LPR).

This landmark decision is based on the examination of transactions across twenty commercial banks, aiming to enhance the banks' understanding of international banking practices and loan portfolio management techniques. Despite the modest scale of operations, Nepalese banks are likely to view this audit positively, recognizing its potential to refine their loan management strategies.

NRB issued an official notification to all consultancies that had responded to the Request for Proposal (RFP No.: NRB/ASMD/LPR/RFP/01/2080/81) for the LPR of Nepal’s commercial banks. The notice announced that KPMG Assurance and Consulting Services LLP, India, has been deemed technically qualified under Rule 77 of the Nepal Rastra Bank Procurement Bylaw, 2071 (with amendments).

The financial proposal for the qualified consultant will be opened on September 1, 2024, at 1:00 PM (NST) at the Assets and Service Management Department of Nepal Rastra Bank.