Banking & Finance
Forecasting that the financial services sector would have a tremendous growth potential in the 21st century, Vishal group took a strategic decision in the mid 1900s to build its presence in this sector. Accordingly, the group obtained license for setting up of a finance company and at the same time applied for a commercial bank operation license. The finance company experience not only provided an entry point into the financial services sector but also provided a platform to gain expertise, which later proved to be of great value when Nepal Industrial and Commerce bank Ltd. was successfully set up. While all these companies are jointly promoted by a mix of local corporate houses, in all instances Vishal Group has been the lead promoter and has been actively involved in all stages of establishment and development of these ventures.
Success in the financial services sector inspired Vishal Group to venture into the insurance sector. And this began with the establishment of Life Insurance Corp. of India. In just over 6 years of existence, LIC (Nepal) is already amongst the leading life insurance companies of Nepal in terms of new policies sold.
In addition, along with other reputed business houses of Nepal, Vishal Group in the capacity of lead promoter established a general insurance company. By providing innovative products catering to the Nepalese market along with traditional products, Prudential Insurance Company limited Is already a force to reckon with, despite a very short history of operation.