September 21: Siddhartha Bank has formally inaugurated its branches in Ilam district on September 20. The branches are located at Ilam Bazaar and Phikkal Bazaar, the bank said in a statement.  

The Ilam branch was jointly inaugurated by Chargé d'Affaires of Embassy of Denmark Ingrid Dahl- Madsen and Manoj Kumar Kedia, chairman of Siddhartha Bank, while the Phikkal branch was inaugurated by the chairman of the bank. The bank said it established the branches in collaboration with UNCDF for UNNATI A2F program.

 The bank informed that it has been providing a wide array of banking products and services along with ATM facility from these branches.

“These branches will also be prioritizing on micro-loan and branchless banking to uplift the marginalized groups in the society,” the statement said.

With the opening of the Ilam and Phikkal branches, the bank’s network throughout the country has expanded to 77 branches, 3 extension counters with 99 ATM outlets, 70 branchless banking locations and more than 500 POS machines.