Kathmandu, The recent Gen-Z movement has caused massive financial damage to Nepal’s state-owned Rastriya Banijya Bank (RBB), with over Rs 380 million (approx. $2.85 million) in losses due to looting and arson.

According to Deputy CEO Pawan Regmi, protesters looted 17,945 grams (approx. 18 kg) of gold and Rs 51.5 million in cash from the bank’s New Baneshwor branch, where the gold was kept as collateral for loans. Based on Wednesday's gold rate of Rs 1,85,270 per 10 grams, the stolen gold alone is worth about Rs 332.4 million.

Additionally, around Rs 1.5–2 million was looted from RBB’s Bhairahawa customs branch, although the physical damage there was minimal.

Regmi stated that the vault remains intact, but the branch suffered major structural damage, with computers, furniture, documents, cameras, and printers destroyed. However, loan documents remain safe.

Of the total collateral gold held at the branch, only about one-fourth was looted, and the rest remains secured.

According to the Nepal Bankers’ Association, a total of 61 bank branches across the country were vandalized during the protests. Several ATM machines were also destroyed, and branches near government buildings saw the most damage.

The Development Bankers’ Association also reported minor physical damage to some development bank branches.

The Gen-Z protests on Sept 9 (Bhadra 24) included attacks on government offices such as Singha Durbar, as well as businesses, factories, and the homes of industrialists, with multiple incidents of looting, arson, and vandalism.