Sudesh Khaling Rai reappointed as CEO of Everest Bank for second term

Kathmandu: Sudesh Khaling Rai has been reappointed as the Chief Executive Officer (CEO) of Everest Bank for a second term.

The bank’s Board of Directors, in its meeting held on September 7, decided to extend his tenure for another four years, effective from September 24.

Khaling was first appointed four years ago, marking the first time a Nepali banker had taken the role of CEO at Everest Bank. His initial four-year term concludes this month, and the board has confirmed his continuation for another term.

Prior to Khaling, the CEO position was traditionally held by representatives from Punjab National Bank of India, one of Everest Bank’s major stakeholders. Under Khaling’s leadership, the bank has made notable progress, maintaining stability and asset quality even as other banks in Nepal struggled with rising non-performing loans.

Before joining Everest Bank, Khaling had already served two terms as CEO of Laxmi Bank, showcasing a strong track record in Nepal’s banking sector.