Nepal Investment Bank has won the award of ‘Nepal’s Best Bank’ from Euromoney magazine’s Awards for Excellence 2018, one of the most significant accolades in financial services.
KAROBAR CORRESPONDENT
Thursday, Jul 19, 2018
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Nepal Investment Bank has won the award of ‘Nepal’s Best Bank’ from Euromoney magazine’s Awards for Excellence 2018, one of the most significant accolades in financial services.
Euromoney, first published in 1969, is an English-language monthly magazine focused on business and finance. It is the flagship production of Euromoney Institutional Investor plc.
The Euromoney awards evaluate levels of service, financial performance and other achievements across the banking industry. This year the organizers received almost 1,500 submissions from banks around the world competing for global, regional and national titles.
Mr. Bhuwaneshwar Prasad Shah, Director of NIBL accepted the ‘Nepal’s Best Bank’ award on behalf of NIBL, amidst the special gala dinner event at J.W Marriott, Pacific Place, Hong Kong. There were almost 500 leading banks from around Asia. “This award is a very fulfilling testimonial of NIBL’s strategic achievements”, said the Director.
With the acquisition of Ace Development Bank, NIBL’s Paid-up Capital reached NPR 10.65 billion with NPR 20.94 billion Core Capital and Assets worth more than USD 1.5 billion. The bank delivered a 3rd Quarter net profit of NPR 2.84 billion with a deposit base of NPR 130.2 billion and a lending base of NPR 118.8 billion - the highest lending base among private sector banks. It also has 57 branchless banking counters across remote parts of Nepal. The bank disbursed NPR 3.7 billion micro credit loans to deprived sector that has helped in the sustainable development of rural communities.
The bank has more than 8.7 lakhs customer base catered from its 77 branches, 7 extension counters across the country. NIBL has a network of 104 ATMs and leads a consortium 14 Visa Associate banks and 7 NPN member banks. There are almost 1.5 million cards issued by its network, along with 790 ATMs and 2,597 POS terminals.
NIBL is the only bank in the country to have received the “Bank of the Year Award” five times from Financial Times Group’s The Banker, a UK based Bank magazine and has received a credit rating [ICRANP-IR] A+ from ICRA Nepal (International Credit Rating Agency- Nepal).