NIBL Glory At 30

Nepal Investment Bank Ltd (NIBL) celebrates its 30th Anniversary with a reputation as an internationally known competitive and reliable commercial bank

March 4, 2016, 5:45 p.m. Published in Magazine Issue: Vol 09.No 16, March 4,(Falgun 21, 2072)

When the NIBL announced the sale its promoter shares, there was a rush of public for applications. It received four times more applications than its issued shares.

This indicates how trustworthy NIBL is in the midst of the general public. It also proves the credibility the bank has established over the last three decades of transaction as a commercial bank.

As NIBL completed its 30 years of banking services, the bank was clearly enjoying its credibility among the members of the general public in delivering world-class services in Nepal.

 "Our mission is to be the best Nepali bank, delivering world-class services through a blend of state of the art technology and visionary management to achieve sound financial health with sustainable value addition to all its stakeholders," read a statement issued by the bank.

"The bank is committed to this mission while ensuring the highest levels of ethical standards, professional integrity, corporate governance, and regulatory compliance."

Although the bank was initially established as a joint venture by a French Bank, the bank’s share was purchased by a group led by Prthvi Bahadur Pande, who is now chairman of the bank.

Under the leadership of Pande, NIBL has made a drastic step keeping the bank’s international reputation intact. During Pande’s decade long tenure as CEO, NIBL made a major expansion.  Under his leadership as CEO and currently chairman, NIBL is now the country’s leading commercial bank with worldwide recognition.

According to a report, NIBL has a deposit base of Rs 98.08 billion, and loan and advances of Rs 77.48 billion as at second quarter of the current fiscal year. The bank earned a net profit of Rs 1.08 billion while its total assets is worth Rs 114.33 billion, financial results of the bank for the second quarter of 2015/16 shows.

Established on February 26, 1986, with a vision to be the most preferred provider of financial services in the country, Nepal Investment Bank Ltd (NIBL) has successfully completed 30 years of excellent banking services. NIBL’s paid-up capital is Rs 6.34 billion and its shareholder fund stands at Rs 10.89 billion

NIBL is committed to its mission while ensuring the highest levels of ethical standards, professional integrity, corporate governance, and regulatory compliance, the statement said and added that the ethos of corporate social responsibility (CSR) have been a vital core value for NIBL since its inception. The bank has been a pioneer and trendsetter in extending CSR support for the welfare of the community and the nation at large. While maintaining its support for the development of the nation’s diverse sectors over the years, the bank’s primary CSR objective and priority this year has been to alleviate the pain inflicted by the devastating earthquake that struck Nepal on April 25, 2015. NIBL has been proactive in initiating relief programs to support earthquake-affected victims, providing instantaneous aid following the quake.

NIBL has a customer base of more than 680,000 people being served through 46 branches and 24 branchless banking locations nationwide. Its ATM network comprises of 82 ATMs and it has over 500,000 cardholders.

The bank has been awarded four times with the prestigious ‘Bank of the Year’ title, awarded by The Banker of the Financial Times, which is based in London, and has also been continuously receiving an ICRA Nepal Credit Rating ‘A’ since 2010-11.

Under the leadership of Pande, NIBL has also shown that Nepali management is also capable enough to run the national bank at the global level. 

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