E-Kantipur

KATHMANDU, DEC 04 -

Nepal Investment Bank Limited (NIBL), one of the leading commercial

banks of the country has been awarded with The Bankers Award-2010 by

the Banker Magazine. This is fourth time that the NIBL has been honoured with this award.

The bank has been awarded for its strong performance in the financial year 2009-10, during which it upped its tier 1 capital by 45.9 percent, increased net profit by 29.2 percent and reduced NPL to 0.58 percent. "The bank achieved the highest growth of any Nepalese bank in terms of deposits, assets and capital," says the Banker.

The bank has also won the 'Bank of the Year' award in 2003, 2005 and 2008. The Banker's Bank of the Year Award is regarded as the industry standard for banking excellence. The winners are judged on the basis of their ability to deliver returns to shareholders and gain strategic advantage, bank's financial performance, shareholders' value, customers' initiative, among others.

"This award reflects the growth in the performance of NIBL over the years," said Shivanth Pandey, chief of Research and Business Development at NIBL. "As compared to our peers, NIBL has focused on investing in quality infrastructure."

The bank is also the highest lender in the domestic banking sector

with Rs 42.83 billion. Among private commercial banks, NIBL earned the highest net profit of Rs 1.26 billion in the fiscal 2009-10. The bank is also one among the top five tax payers in last fiscal year.

NIBL, which has the largest trade finance operation in Nepal, has also the highest paid up capital of Rs 2.4 billion. The bank has posted a net profit of Rs 335.85 million in the first quarter of the current fiscal year, an increment of 14.82 percent.

 

Posted on: 2010-12-04 09:00

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