NIBL's hat-trick as Bank of the Year

Nepal Investment Bank Ltd (NIBL) has been awarded the prestigious ‘Bank of the Year 2008' by the London-based Financial Times Group's The Banker Magazine — making it the first Nepali bank to win the award for the third time. NIBL won the ‘Bank of the Year' award in 2003 and 2005. It was selected for this honour amongst the Nepali banks as it has met the stringent benchmark criteria set by The Banker. The award is based on the growth and performance in terms of capital, assets, return on equity, management staff and business strategy. The capital base of the bank is at 2,919 million, making NIBL's the largest capital base among banks and reflecting security and stability. In the fiscal year 2007-08, NIBL boosted its net profit to Rs 697 million, a growth of 39.12 per cent over the previous fiscal year. The deposit of the bank in this quarter of this fiscal year stands at 38,914 million, a growth of 42.8 per cent over the previous quarter. Non-performing loan (NPL) of the bank stands at 0.98 per cent. The bank has 46 ATM's and 22 branches across the country. It plans to have over 50 branches by 2010. NIBL has also introduced various products for its 1,83,000-strong clientele. It has several firsts to its credit, like being the first Nepali bank to introduce 365 days banking and the first to introduce Visa Electron Debit Card with 1,60,000 cards issued. It is the first among non-government banks in Nepal to introduce loans against gold and silver, a much-demanded short-term facility and also the first to introduce utility payment through ATMs. NIBL general mnager Jyoti Prakash Pandey said that it has striven to prove that a Nepali bank can provide top quality service.
Source:
THT