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Nepal Investment Bank bags “Bank of the Year Award 2016”, establishes new record

By Our Business Reporter
bank-of-the-year-2016This year also, the Nepal Investment Bank Ltd (NIBL) has bagged the prestigious Financial Times’, “Bank of the Year Award -2016”. This is the fifth time the Bank has bagged such a prestigious international award.
NIBL Chairman Prithivi Bahadur Pande and CEO Jyoti Prakash Pandey received the award in London on Wednesday amidst a function.
In the last fiscal year, NIBL earned operating profit of Rs 4.14 billion compared to previous year’s Rs 3.11 billion.
“NIBL’s paid-up capital stands at Rs 8.71 billion with a core capital of Rs 16.3 Billion which is the highest amongst private banks,” it said, adding, “NIBL has NPA of 0.68 percent as of mid-July 2016.” NIBL is the first and so far the only private sector bank to meet the paid-up requirement of Rs 8 billion set by the Nepal Rastra Bank.
In the past, in 2003, 2005, 2008 and 2010, the Bank had received Bank of the Year award.
The 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.

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