Nabil marks silver jubilee

Nabil Bank, Nepal's first private sector joint venture bank, celebrated its silver jubilee on Friday. Since it began its operations in 1984, the bank has taken great strides in building partnerships for progress with all stakholders. Its net worth grew to Rs.3.46 billion in 2009 from just s. 78 million in 1989 after five years of its operation. Its non-performing loans (NPL) also went down to 0.80 percent from 3.40 percent in 1989. Its NPL hadhowever reached as high as 11.20 percent in 1999. The bank has said that its deposits went up to Rs. 37.34 billion in 2009 from Rs. 779 million in 1989. On other hand, the shareholders also greatly benefited over the period. Chief Executive Officer of Nabil Anil Shah said that the Nabil had become the model of stability, strength and progress in the banking sector. The bank also declared that it would diversify in merchant banking, brokerage, insurance, frastructure and micro-lending within the next five years.
Source: Kantipur