Gen-Z Protest: Bank Branches Vandalized, Employees Concerned, Banks Closed, Cash Safe

The nationwide Gen-Z protest has directly affected banks and financial institutions in Kathmandu and other cities. What began as a movement demanding corruption control, an end to inequality, and the removal of restrictions on social media has turned violent, leading to the vandalism of bank branches, ATMs, and office buildings.

Vandalism and Damage to Bank Branches

At New Baneshwor, the branch of Rastriya Banijya Bank was vandalized, with attempts made to enter the vault. However, the cash remained secure. Similarly, the branch office of Himalayan Bank located inside the Marwari Sewa Samiti building at Battisputali was completely destroyed, though the vault remained unharmed.

Branches of Standard Chartered Bank located inside Bhatbhateni stores in Bharatpur (Chitwan) and Biratnagar (Morang) were also completely destroyed in fire incidents.

In Thapathali, the Central Business Park was burned down, causing complete destruction of the Global IME Bank branch located there. Likewise, bank service counters inside several government offices that were set on fire have also been fully damaged, according to the Nepal Bankers’ Association.

ATM Vandalism

When protesters set fire to the Bhatbhateni supermarket in Tangal, Kathmandu, the ATMs located there were damaged. ATMs in other areas were also vandalized with stone-pelting, though the cash remained safe. In some cases, there were attempts to withdraw money from the machines, but they were unsuccessful. As a precaution, banks have suspended ATM services, causing further inconvenience to the public.

Public Fear and Employee Concerns

Residents near bank branches have expressed fear, stating that the late-night vandalism, stone-throwing, and loud slogans created an atmosphere where children, the elderly, and women were unable to step outside their homes. Bank employees have voiced concerns about their safety, stressing that attacking financial institutions in the name of protest is unjust.

Banks Closed, Cash Safe

With the coordination of Nepal Rastra Bank, the Nepal Bankers’ Association has been gathering details of the damages. On Wednesday, banks across the country were completely closed. However, with the army taking charge of security arrangements and the situation gradually calming down, banks are expected to reopen gradually from Thursday.

Threatening Messages

The Bankers’ Association also reported receiving threatening messages about burning down important bank documents. Nevertheless, since the vaults have remained secure, no cash losses have been reported so far.

The violent turn of the Gen-Z protest has thus had a direct impact on the country’s banking and financial sector, raising concerns over both security and stability.