In the last three decades, Nepal has seen many changes in the financial sector, particularly in banking, with the mushrooming of foreign and Nepalese banks.
Since early days of its establishment as a joint venture of French bank and Nepalese investors, Nepal Investment Bank, however, has been standing tall in the banking business as a reliable bank.
Under a strong leadership of Prithvi Bahadur Pande, who is now chairman of the Bank, Nepal Investment Bank has increased its capital as well as expanded its base throughout the country.
Its current Chief Executive Officer Jyoti Prakash Pandey has been taking the bank into the direction set by the bank’s board. Thanks to its reliability and efficiency, the bank has also been awarded with the prestigious Financial Times ‘Bank of the Year’ award for five times and has been consistently receiving ICRA credit rating Nepal ‘A’.
The bank has been providing banking services through 47 branch offices and 84 ATM outlets to over 750,000 customers, a press statement of the bank said.
Expanding its services and reaching more people, Nepal Investment Bank Ltd (NIBL) has completed 30 years of banking service. According to the bank, it was established in 1986 with the aim to be a top Nepali bank by providing world class services.
The bank claims that it has highest paid-up capital of Rs 8.7 billion amongst all banks and financial institutions of the country. In the statement, NIBL said it earned operating profit of Rs 4.14 billion and net profit of Rs 2.25 billion in the last fiscal year.
Its mission is to be the top 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 for all its stakeholders, as per the press statement. The bank is committed to this mission while ensuring the highest levels of ethical standards, professional integrity, corporate governance, and regulatory compliance.
NIBL has the highest paid-up capital of Rs 8.7 billion amongst all financial institutions of Nepal, and retains a reserve of Rs 7.5 billion. It has over 750,000 customers being serviced through 47 branches, 84 ATMs and over 300 Visa and NPN member bank ATMs. The bank has over 550,000 debit card holders.
During the last fiscal year, NIBL earned an operating profit of Rs 4.14 billion and net profit of Rs 2.55 billion. NIBL has NPA of 0.68 per cent and capital adequacy ratio of 14.92 per cent as of mid-July, 2016. It is the first and only private bank to meet the target given by Nepal Rastra Bank to increase the paid-up capital to Rs eight billion even before the target date.