NEPAL INVESTMNET BANK Awarded Again

After breaking all records back home, Nepal Investment Bank Limited (NIBL) won the prestigious Bank of the Year 2010 of Nepal in the fourth consecutive year in London<br><P>A CORRESSPONDENT</P>

Dec. 20, 2010, 5:45 p.m. Published in Magazine Issue: Vol.: 04 No.-13 Dec.17-2010 (Poush 02,2067)

Nothing is impossible given a good leadership. This is what NIBL has shown. Under the leadership of its chairman and executive director Prithivi Bahadur Pande, NIBL has made a big progress. After adding several feathers in the cap over the years, NIBL has added another this year by winning the prestigious Bank of the Year 2010 Nepal award.


The bank has been awarded ‘Bank of the Year 2010 Nepal’ by the Banker Magazine, a publication of the Financial Times Group. The award, regarded as the most prestigious in the industry, was collected by NIBL chairman and executive director Prithivi Bahadur Pande at the awards ceremony held at the Dorchestor Hotel in London on the 2nd of December.


This is the fourth time Nepal Investment Bank has won the award in the last eight years. The Banker award is given on the basis of financial performance, shareholder value, customer initiatives and performance against peer banks.


NIBL achieved the highest industry growth in terms of deposits, assets, profits and capital base in 2009.  The deposit base grew to Rs 50.09 billion making NIBL the largest private sector bank in deposits, adding 83,000 new clients, the highest addition of customers in Nepal. NIBL had the highest net profit among all commercial banks of Rs. 1.26 billion. Similarly, the Tier 1 capital is also the largest of any bank in Nepal at Rs 5.18 billion.


Assets grew to Rs 57.30 billion, the highest volume growth and highest level in Nepal. Loans and advances grew to Rs 40.94 billion, making NIBL the largest lender in Nepal.


NIBL grew significantly in the remittance space with exclusive partnerships in different countries and are now the second largest player in the remittance industry.  NIBL also registered success in the payments space, with 60% of VISA transactions in Nepal being routed through NIBL.  NIBL also has the largest ATM network in Nepal. 


As a completely Nepali Bank, its major success was being able to surpass other domestic and international banks in terms of deposits, lending and profits.


NIBL is now focusing on initiatives that will allow bank penetration and financial services to the masses through an innovative blend of Cards, Mobile Banking and Payments and POS led agency banking.  These new technologies will allow NIBL to enter into rural areas and also to streamline remittance delivery and help target the unbanked.


“The Power, Infrastructure and Tourism Sectors have very good potential for growth and offer very attractive returns and we will be investing in these sectors,” the bank authorities said.


Along with establishing sound and efficient bank, NIBL has also been making contribution in the areas of sports, environment and heritage conservation of the valley. This has made NIBL unique financial institution.

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