NIBL’s 25th AGM HELD

NIBL’s 25th AGM HELD Nepal Investment Bank limited will be distributing 25% Cash dividend and 25 % bonus share to its shareholder, on its 25th Annual General meeting to be held on November 11, at Amrit Bhog, Kalikasthan. After releasing 25 percent bonus share, NIBL would be the only private commercial bank to have paid up capital of over Rs 3 billion. The bank made Net profit of 1.17 billion in the last fiscal year.

 

The AGM will address the major achievements of the bank during its 25 years of operation. The Bank, which started operation with a paid up capital of only NPR 30 million, has now become the Bank with the largest paid up capital in Nepal. NIBL is currently the largest private sector bank in Nepal in terms of Deposit, Lending, Asset size, Capital base, Customer base and has won the Bank of the Year Award awarded by the “London Financial Times”, The Banker Magazine Published from London for the fourth time in the span of 8 years.

 

Today NIBL is proudly serving more than 428 thousand customers, making us the bank with highest customer base in Nepal. NIBL started with 44 employees and today has staff strength of 877 dedicated people. The bank has 41 branches and 67 ATMs throughout the country covering as many districts as Kailali, Jumla in West to Solukhumbu and Jhapa in east.

 

During the past 25 years of operation, the Bank has paid NPR 2.45 billion as dividend to its respected shareholders and NPR 2.79 billion as income tax to the Government of Nepal.

 

Despite the adverse financial environment, that predominated the national banking scenario for last fiscal year, the Bank, achieved marginal growth in total assets (+1.83%), maintained its deposit base (+0.08%), and marginally grew its loans & advances (+2.29%) and maintained its operating profit (+1.43%).

 

NIBL has maintained a consistent rating from Renowned Indian Credit Rating Institution, International credit Rating Agency(ICRA), an affiliate of Moody’s Investor Group, receiving a rating of “Nepal A”, reflecting our strong creditworthiness and our position as the first and only bank in Nepal to have a credit rating adding extra transparency to our shareholders and our regulating bodies.

 

Amongst all the commercial banks in Nepal, NIBL had one of the largest remittance transfers, dispersing around USD 199 million in 2010/11. Last year Bank had added 304 local Remittance Agent, now we have 804 remittance agents throughout the country.

 

NIBL have delivered excellent shareholder value, consistently giving return on equity of over 24.1% in the span of nine years since the current management took over from the Credit Agricole Group.

 

NIBL continues to place great value on Corporate Social Responsibility. The bank has always made a point to segregate the CSR fund as diversely as possible. Last year, NIBL contributed towards Cultural, Heritage and Architecture preservation and renovation. This year, NIBL channelized a major portion of the fund towards the welfare of Children, Environment, Old Age Homes, sports events and partially to restore heritage sites. 

 

NIBL donated Rupees Five Hundred thousand to Shiva Parbati Briddashram, one of the oldest Briddashram in Nepal. The fund helped the Briddashram to upgrade the existing facilities for Elderly residents. NIBL contributed Rupees Two Hundred thousand to Hospital and Rehabilitation Center for Disabled Children (HRDC), a Nepalese non-government organization. The bank also sponsored over Rupees One Hundred Thousand to Kasthamandap Vidyalaya. The fund was utilized to improve the quality of educational experience for students.

 

Similarly, NIBL assisted the Tenzing-Hillary Everest Marathon, which was organized to commemorate the anniversary of the ascent on Mt. Everest by Tenzing Norgay Sherpa and Edmund Hillary. The CSR fund was also channelized to assist Peace-Walk-a-thon organized by Tewa, a local NGO, for spreading the message of peace. NIBL supported the Durbar Marg Traffic Police by sponsoring the cost of barricades for better traffic management.

 

NIBL JOINS HANDS WITH BROADLINK AND RADIUS COMMUNICATION

 


Nepal Investment Bank Limited (NIBL) recently tied up with Broadlink Network & Communication Pvt. Ltd which will allow NIBL customers to purchase Broadlink’s PINs through NIBL eBanking and ATMs. The facility will cover both Wi-Fi service (Broadlink Wi-Fi) and Internet based telephone service (Broadtel) provided by Broadlink.

 

Similarly, Nepal Investment Bank Limited has also integrated with Radius Communications enabling purchase of calling cards through ATMs and eBanking. Radius Communications has been providing IP Telephony service for the past one year through which international calls can be made at very economic rates.

 

NIBL has also launched NIBL Mobile (SMS) Banking which incorporates Fund Transfer, Bill Payments, Nepal Telecom Prepaid PIN Purchase and inquiry services as major features. We have also made available NIBL Mobile (SMS) Banking application for Android Platform Smart Phones (2.1 and above) and Java Enabled Phones (touch and non-touch). The application can be downloaded from http://www.nibl.com.np/getapp .

 

NIBL has also recently launched Domestic eBanking Remittance which avails customers the facility to instantly transfer money to their relatives/friends online. This addresses the need of NIBL Customer for instant money transfer facility across Nepal, even in locations without NIBL branches. The payment can be sent against government issued valid identity card of your relatives/friends. NIBL eBanking Customers can use this facility through http://www.nibl.com.np/domestic .

 

Currently, NIBL has 25000 users in the eBanking platform, which is one of the highest bases of online banking customers in Nepal. The bank has also added a new eBanking light version, which is a stripped down version of the original eBanking system, for access through GPRS/WIFI for mobiles phones with slower connections. The light version can be accessed through http://www.nibl.com.np/mobile .

 

NIBL has been focusing on e-commerce as major growth plan for coming year. The bank has enabled online bill payments for NCELL, the largest private sector Telecom Company in Nepal. We have also added PayWay Nepal as an additional online gateway, NetforNepal.com and harilo.com for domestic/international internet shopping and Xeno Pharmacy for online medicine purchases.

 

Apart from these, the bank has also tied up with QFX Cinemas for online purchase of movie tickets via our eBanking which is also tied into the QFX loyalty card program.

 

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