Gen Z protests cause minor damage to banks, no cash lost

On Tuesday, Gen Z protests caused physical damage to several banks and financial institutions.

Angry protesters vandalized and set fire to some bank branches, but no one was injured, and no cash was reported stolen, according to umbrella organization representatives.

Santosh Koirala, president of the Nepal Bankers’ Association, said although some branches of commercial and development banks were damaged, there has been no report of cash theft. In New Baneshwar, protesters tried to vandalize and loot a branch of Rastriya Banijya Bank at night, but the Nepal Army prevented any human or cash loss.

Some ATMs were damaged, but because it was impossible to steal cash, no money was lost. Bank doors and furniture were broken, but no cash was taken.

The exact extent of the damage from Tuesday’s protests is still being assessed, as many employees were sent home and officials could not immediately gather information. Collection of damage reports began on Wednesday.

Banks located near government offices were among the most affected. The Development Bankers’ Association also reviewed the impact and found little to no major damage. Most of the protests did not specifically target banks, and while some physical damage occurred, there were no injuries or cash losses.

In addition to banks, most government offices, some industries, businesses, and residences were vandalized or set on fire during the protests.