Press Statement 27th AGM

Kathmandu, December 26th, 2013. Nepal Investment Bank Limited (NIBL) is proud to announce its 27th Annual General Meeting. The year 2069-70 has been another milestone as we moved a mile ahead to complete our 27th year of providing excellent banking services in Nepal. Since its inception the bank has been able to deliver maximum returns to its shareholders and has established itself as one of the leading banks in Nepal.

 

Brief Review of Bank’s Performance of FY 2069-70

NIBL capital base reached NPR 4.14 billion (after 10% Bonus Share proposed in FY 2069-70), which is the highest capital base amongst the private sector banks in the country, and is more than twice the minimum capital base advised by Nepal Rastra Bank.

 

In the FY 2069-70, NIBL earned Operating Profit of NPR 3.10 billion before provision compared to previous year’s 2.10 billion. The Net Profit of the Bank also grew by 84.3% (+NPR 875.75 million) to reach NPR 1.91 billion against previous year’s figure of NPR 1.03 billion.

 

The Board of Directors has proposed 10% Bonus Share (NPR 376.80 million) and 25% Cash Dividend (NPR 942 million) from the Net Profit of FY 2069-70.

 

In FY 2069-70 our deposits increased by 9.5 %, reaching NPR 62.42 billion, against last year’s NPR 57.01 billion. Similarly, total lending of the bank also grew by 11.2 % reaching NPR 47.70 billion from previous year’s NPR 42.90 billion.

 

Due to recovery of non-performing loans (NPAs) during the year, the NPA ratio of the bank declined to 1.91% from 3.32% of last year. The bank will further continue to minimize the NPA level in the future.

 

 

Other Matters:

Branch Network, Products and Services during FY 2069-70:

 

Branch Network: NIBL now serves more than 500,000 customers across the country with 44 branches and 73 ATM networks.

 

Products and Services: NIBL continues to be innovative by offering new products and services in the financial market. During the FY 2069-70, the bank started issuing Medicash Card, a broader access to world-class health & wellness care services to

 

facilitate Medical tourism in India. The card likewise offers value-added payment options and introduces a concept of Healthcare Card services in Nepal. Furthermore, we have also started issuing worldwide accepted Travel Cards for customers who are travelling abroad.

 

Corporate Social Resonsibility (CSR): NIBL strongly believes in conserving Nepali heritage and consistently supports various sectors such as arts and culture, education, and health. One of the major Corporate Social Responsibility during FY 2069-70 includes promoting education in rural areas of Nepal. The schools that were supported are, Sri Ranbir Janahit Madhyamik Vidhhyalaya of Waling, Syangja and Bhim Aadhar Samudyayik School of Bhimphedi, Makwanpur, and Budhanilkantha Ashram School. Likewise we extended financial support to Brigade Boys Club, a football club based in Lalitpur, Kathmandu District Badminton Association, Manbhawan Badminton Circle, and Swimming Association for various events. As a part of our CSR ethos, the bank also extended financial support to Nepal Art Council, Sishne Himal Sambhavyata Adhyaan Arrohan Shayog Samiti, and Sanjay Pandit Foundation; Sanjay Pandit is an athlete, who has climbed the Mount Everest with the slogan "Save the Himalayan Region".

 

Other Achievements: For the past 4 years, NIBL has been rated "A" grade by the Indian Credit Rating Agency (ICRA). This rating reflects our strong creditworthiness and dependability as the leading bank in Nepal.

 

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