Garima Bikas Bank Limited has officially appointed Madhav Prasad Upadhaya as its new Chief Executive Officer ( CEO ), marking a significant leadership transition for the prominent development bank. The decision was made during the 304th meeting of the bank’s Board of Directors, held on Wednesday, Chaitra 14, 2080 BS (March 27, 2024). His four-year tenure as CEO began on Baisakh 1, 2081 BS (April 13, 2024).
Upadhaya’s appointment comes as Mr. Govind Prasad Dhakal, who had served as the Chief Executive Officer for an impressive 15 years, concluded his tenure at the end of Chaitra 2080 BS. This transition ensures continuity in leadership while bringing in a seasoned professional who is deeply familiar with Garima Bikas Bank’s operations and ethos.
A post-graduate in management, Madhav Prasad Upadhaya brings a wealth of experience to his new role. He has been an integral part of Garima Bikas Bank Limited since its very inception, demonstrating a long-standing commitment to the institution. Prior to his elevation to CEO, he served as the Deputy Chief Executive Officer for 11 years and as the Company Secretary for the past 15 years. This extensive background within the bank provides him with unparalleled insight into its strategic direction, financial health, and operational intricacies. Before embarking on his successful career in the banking sector, Upadhaya also dedicated approximately one and a half decades to the teaching profession, highlighting his diverse professional experience.
At a special ceremony held at Park Village Resort in Budhanilkanth, Kathmandu, on Baisakh 1, 2081 BS (April 13, 2024), Garima Bikas Bank bid farewell to outgoing CEO Govinda Prasad Dhakal and officially welcomed Madhav Prasad Upadhaya. The event was attended by members of the Board of Directors, former presidents, fund supervisors, and key personnel from the bank and its subsidiary companies, signifying the importance of this leadership change.
Upon assuming his new responsibilities, CEO Upadhaya has reportedly vowed to prioritize institutional governance and compliance, emphasizing his commitment to upholding the highest standards of integrity and transparency. He also expressed his aim to elevate the bank’s performance with a clear focus on providing excellent returns to stakeholders.
Garima Bikas Bank Limited, with its head office in Lazimpat, Kathmandu, operates through a widespread network of 123 branch offices, 1 extension counter, and 51 ATMs across the country, serving customers in 22 districts. Under Madhav Prasad Upadhaya’s leadership, the bank is poised to continue its trajectory of growth, enhance its service offerings, and further solidify its position in Nepal’s competitive development banking sector.
