Nepal Investment Bank Limited, Truly a Nepali Bank

KATHMANDU, JUL 06 2010. The number of debentures being issued in the Nepali capital market is low compared to other instruments of capital financing. As of the present, only 11 companies have issued 16 debentures worth Rs. 5.46 billion to the public, according to the Nepal Stock Exchange (NEPSE).

Debentures are debt instruments through which a company collects money from investors with the promise that they would be repaid within a fixed period. The coupon (interest) can be paid annually or semi-annually. However, in Nepal, almost all the debentures issued so far pay interest on a half-yearly basis.

June 7, Kathmandu, Nepal Investment Bank Limited (NIBL) opened its 40th branch in Lagankhel, Kathmandu on Monday, June 7, 2010. Lagankhel, which is emerging as a major business hub, is connected to all other 39 branches of the bank around the country with ABBS (Any Branch Banking Service).

The branch office, with its spacious size provides deposit and credit facility, foreign exchange, retail banking, import, export, letters of credit, guarantees and remittances, locker facility, 365 days service, ATM facility, multiple teller counters, among other updated banking services.

The newly opened branch is in tune with the Bank’s policy to expand its branch network and provide exceptional banking services within all major pockets of the country, both within and outside the Kathmandu valley. In the coming days, the bank plans to extend its access through wider demography, whereby availing the banking facility for all.

Kathmandu, May 17, 2010 - IFC, a member of the World Bank Group, will provide a trade finance facility of up to $5 million to Nepal Investment Bank that will enable the bank to enhance its support for local enterprises and help boost international trade opportunities.

IFC’s trade finance facility will provide Nepal Investment Bank with risk coverage in a difficult market and access to a global network that will help grow its trade finance business. The network facilitates transactions in challenging markets, promotes competitive financing, and builds correspondent bank relationships with new institutions at low risk.

Nepal Investment Bank’s Chairman and Chief Executive Officer, Prithvi Bahadur Pande and IFC Resident Representative in Nepal, Rajeev Gopal, signed the Memorandum of Understanding that will help boost Nepal’s international trade opportunities.

“By joining IFC’s Global Trade Finance Program, we will be recognized by a wider range of correspondent banks globally. It will become easier for us and our clients to complete international transactions,” said Deepak Kumar Shrestha, Head of International Banking and Trade Finance at Nepal Investment Bank.

The global economic crisis and reduced trade financing had posed a particular economic risk to low- and middle-income countries. IFC, working with its partners, has sharply increased its trade financing efforts over the past two years.

Per Kjellerhaug, IFC Regional Manager for Bangladesh, Bhutan, Maldives, Nepal, and Sri Lanka, said, “IFC’s trade finance support to Nepal Investment Bank will enable the country’s corporate and small and medium enterprise sector to increase their share of global trade.”

Prior to this facility, IFC has supported three other banks with trade finance in Nepal. Since 1975, IFC has committed over $80 million in nine projects in Nepal. Currently, IFC has an exposure of over $35 million in the country in equity, debt, and guarantees, with exposure to private infrastructure exceeding $28 million. In FY09, IFC committed more than $10 million in new investments in Nepal.

To learn more about IFC’s activities in South Asia, visit www.ifc.org/southasia.

About IFC
IFC, a member of the World Bank Group, creates opportunity for people to escape poverty and improve their lives. We foster sustainable economic growth in developing countries by supporting private sector development, mobilizing capital for private enterprise, and providing advisory and risk mitigation services to businesses and governments. Our new investments totaled $14.5 billion in fiscal 2009, helping channel capital into developing countries during the financial crisis. For more information, visit www.ifc.org.

कला पारखी बैङ्कर्स मानिनु हुन्छ - पृथ्वीबहादुर पाण्डे । नेपाल इन्भेस्टमेन्ट बैङ्कका अध्यक्ष एवम् प्रमुख कार्यकारी निर्देशक पाण्डेको बैङ्क तथा वित्तीय क्षेत्रको विश्लेषणमा अध्ययन र अनुभवको सटिक संयोजन हुने गर्छ । अहिले बैङ्किङ क्षेत्रमा देखिएका समस्या र तिनका समाधानमा पनि अलि बेग्लै अनि विशिष्ट धारणा र विश्लेषणहरू छन् उहाँका । पूर्वाधार विकासका ठूल्ठूला परियोजना निर्माणका लागि स्रोत जुटाउन आवश्यक पर्ने वित्तीय व्यवस्थाका लागि पहल गरिरहनु भएका पाण्डेसँग गोरखापत्रका लागि गरिएको अर्थ-संवादः

मुलुकको वित्तीय बजारमा तरलताको अभाव तीब्र हुँदैछ । यो समस्या कसरी सुरु भयो होला ?

यो चारपाँच महिनादेखि सुरु भएको समस्या हो । गएको डिसेम्बर-मङ्सिर-पुस)सम्म त तरलताको समस्या आइसकेको थिएन । त्यतिबेला पाँच खर्ब ८६ अर्ब रुपियाँ वाणिज्य बैङ्कमा थियो । त्यो घट्न थाल्यो । तीनचार महिनाा झन्डै चार अर्ब रुपियाँले निक्षेप घट्यो । वाणिज्य बैङ्कबाहेक अरू बैङ्क तथा वित्तीय संस्थाहरूमा पनि निक्षेप बढेको पाइएन । यो बीचमा आयात भने हृवात्तै बढ्यो । उपभोग बढ्यो । रेमिट्यान्स घटेर गयो । मानिसको आयमा वृद्धि भएन । यसैगरी तरलताको अभाव सुरु भयो । समयमै थाहा पाउन सकिएन । लगानी गर्न अभाव हुन थालेपछि मात्र बैङ्किङ क्षेत्रले तरलताको समस्या भएको अनुभव गर्न थाल्यो ।

Kathmandu, April 18 Mt. Everest, a name instantly recognized by millions around the world, has long been a symbol of Nepali pride. However, in recent times, the image of the mountain has been somewhat tarnished by news of the increasing numbers of oxygen bottles, old rope, flags, dead bodies and other waste materials scattered along the climbing trails and at the summit itself, portraying a sad picture of a sacred mountain desecrated by human exploration.

Several noble cleaning campaigns have been initiated to help to ease the problems at the various base camps, yet none have attempted to clean the treacherous region above 8,000 meters (often referred to as the ‘Death Zone’). The campaign is also the first of its kind to be initiated by an all-Nepali team to both climb and clean up the mountain over a height of 8,000 meters.

April 16, Kathmandu Nepal Investment Bank Limited (NIBL) launches a new product.
This new product known as the “Saving Bonanza” offers interest up to 7.5 percent starting from 6.5 percent on daily balance. The minimum amount required to open this account is Rs. 100,000. This high yielding savings account is designed keeping in mind the higher return seeking clients with low investment amounts

Investment of up to 5,000,000 yields 6.5 percent interest and amount above 5,000,000 yields 7.5 percent on daily balance. This new account avails free ABBS, free e-Banking facility, free Visa Electron Debt Card, free accident insurance, free Utility payments (NTC Pre-Paid/Post Paid, e-ticketing for Yeti Airlines); it also enables unlimited deposits and withdrawals, privilege lounge facility and a full waiver of key deposits for lockers.

The Bank also provides services like foreign exchange, retail banking, import, export, letters of credit, guarantees and remittances, 365 days service, 183 ATM network, multiple teller counters, among other updated banking services.

The new scheme is available through all 39 branches of NIBL across the country.   The Bank has the highest paid up capital and reserves at 4.7 billion making it one of the safest financial institutions in Nepal.

February 17, Kathmandu, Nepal Investment Bank Limited (NIBL), which is celebrating its 24th anniversary today (February 26), has opened its 38th branch in Maharajgunj, Kathmandu on Thursday, February 25.

The newly opened branch will be linked through ABBS (Any Branch Banking Services) to all other 38 branches around the country. The key services provided by the branch include deposit and credit facility, foreign exchange, retail banking, import, export, letters of credit, guarantees and remittances, among others.

The bank has also introduced two new products – Savings Plus Plus and Fixed deposit, whereby the bank gives interest up to  6% on savings account and up to 10% interest on Fixed deposit.

Nepal Investment Bank Limited sponsored Rs 3 lakhs for the publication of In The Eye of The Storm, a compilation of rare sketches by contemporary artist Manuj Babu Mishra. The book which was launched on January 8, Friday along with the opening of Mishra's exhibition at Siddhartha Art Gallery, features his works over the period of time. Some of the sketches date back to early fifties, while the rest progress in chronological order to mark the artist's own progress over the time. The octogenarian artist, often referred to as the living legend, graduated in arts from Bangladesh.

Nepalese financial sector has seen exponential growth during last two decades. From 1990 to 2009, the number of commercial banks increased from 5 to 26, the number of development banks increased from 2 to 63 while the number of finance companies increased from 0 to 77. Even during the conflict years of 1996 to 2006, financial sector did remarkably well and managed to flourish (See figure 1 for details). With the rapid growth in the financial sector, growth has trickled down to real sectors in the form of wider access to finance, innovative products catering to wider customer base and faster service delivery on the part of financial institutions.