NIBL Does It Again

Nepal Investment Bank Limited (NIBL) has been awarded the prestigious “Bank of the Year 2005” by the London-based Financial Times Group’s The Banker – making it the first Nepali Bank to win the award two times in three years. NIBL had also won the “Bank of the Year 2003” award. The NIBL was selected for this honor amongst the Nepali banks by meeting 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 and management quality.

The net assets of the Bank has increased from Rs 5 billion to Rs 13 billion since the Nepali-management took over the Bank in July 2002. In the last fiscal year (2003-04), the bank boosted its net profit about 32% and achieved the return on equity of 21%. The Bank’s non-performing asset NPA at 1.64% is one of the lowest (when the national average is over 25%) in the banking industry in Nepal and well within the internationally acceptable standards.

The NIBL is the first bank to introduce Visa Electron Debit Card in Nepal and the first non-governmental bank to launch “Loan Against Gold and Silver.” The Bank has issued over 25000 cards making it the leader in the industry within a span of one and half years. The bank recently launched the “Premier Banking Cell” that caters to its high net worth clients and renders consultancy services in taxation, legal, insurance and travel and tours. The Bank plans to strengthen its position in products such as remittance and plastic money. The Bank has started a concept of “15 Minute Banking” for the convenience of all its valued customers.

hairman and Chief Executive Director Mr. Prithivi Bahadur Pande says, “Nepal Investment Bank endeavors to demonstrate that a Nepali bank can constantly provide top quality customer service and be the best in Nepal.”