It was established in 1937, by Juddha Shumsher, which marked the beginning of an era of formal banking in Nepal.

On November 15, 1937 (Kartik 30, 1994), the then King Tribhuvan inaugurated Nepal Bank Limited.

In 2007, Nepal Bank Limited appointed Mr Rohit Ghambole as chief banker.

From the very conception and its creation, NBL was as joint venture between the government and the private sector.

Out of 2500 equity shares of NPR 100 face value, 60% was subscribed by the government and the balanced 40% was offered for the sale to private sector.