Bank of Kathmandu (BoK) has been awarded Bank of the Year 2011-Nepal and Kumari Bank has received The Manthan Award South Asia 2011.


Chairman of Bank of Kathmandu Narendra Kumar Basnyat received the award along with Chief executive officer Ajaya Shrestha in an occasion.


The Banker Magazine, a publication of the Financial Times Group awards the banks around the globe with its prestigious The Banker Award.


BoK chairman Narendra Kumar Basnyat and chief executive Ajay Shrestha received the Banker Award along with a certificate of merit in London amid a ceremony.


The Banker award is presented to the banks on the basis of financial performance, shareholder value, customer initiatives and performance against peer banks. It is considered to be the testament to the sound business model and prudent management of risks.


Likewise, Kumari Bank has received The Manthan Award South Asia 2011 -Digital Inclusion for Development, during The Manthan Award South Asia 2011 International Summit 2011 held in New Delhi.


The bank won the award in the e-business and enterprise category for providing Kumari Mobile Cash. The branchless banking service uses mobile phones to provide access to financial services through mobile wallet concept which allows users to store cash balances in their mobile phones.


Out of more than 481 applications from across Afghanistan, Bangladesh, Bhutan, India, Maldives, Nepal, Pakistan and Sri Lanka, 38 were selected as winners in 30 different core categories.


Kumari Mobile Cash has been recognised for breaking traditional barriers in providing access to finance to the poor.


The Manthan Award is a first of its kind initiative in India to recognise the best practices in e-Content and Creativity launched by Digital Empowerment Foundation in partnership with World Summit Award, Department of Information Technology-Government of India.