28th Annual General Meeting

Press Statement Kathmandu, October 22nd, 2014. Nepal Investment Bank Limited (NIBL) is proud to announce its 28th Annual General Meeting for the fiscal year 2070-71. The bank has been successful in delivering 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 2070-71

NIBL Paid Up capital reached NPR 4.76 billion (after 15% Bonus Share proposed in FY 2070-71) which is more than twice the minimum capital base prescribed by Nepal Rastra Bank. NIBL Capital base reached NPR 7.92 billion which proves to be the highest capital base amongst the private sector banks in the country.

In the FY 2070-71 NIBL earned Operating Profit of NPR 3.16 billion before provision compared to previous year 3.10 billion. The Net Profit of the Bank also grew by 1.3% (+NPR 24.5 million) to reach NPR 1.93 billion against NPR 1.91 billion of previous year.

The Board of Director's has proposed 15% Bonus Share (NPR 622 million) and 25% Cash Dividend (NPR 1036 million) from the Net Profit of FY 2070-71.

In FY 2070-71 our deposits have increased by 18.3 percent, reaching NPR 73.83 billion, as compared to last year NPR 62.42 billion. Similarly, total lending of the bank increased by 12.1 percent reaching NPR 53.45 billion as compared to previous year NPR 47.70 billion.

Due to recovery of non-performing loans (NPAs) during the year, the NPA ratio of the bank declined to 1.77% against 1.91% last year.  We will continue our efforts to further minimize the NPA level in coming years.

 

Other Matters:

Branch Network

NIBL now serves more than 550,000 customers across the country with 44 branches, 83 ATM Networks and over 300+ VISA and NPN Member Bank ATMs.

 

Products and Services

NIBL’s focus has always been on innovation by offering new user-friendly products and services in the financial market. The Bank started issuing Medicash Card, encompassing 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 new concept of Healthcare Card services in Nepal. Furthermore, we have also started issuing worldwide accepted Travel Cards for customers who are travelling abroad.

The Bank launched USD Prepaid Travel Card with online activation and started acquiring Master Card for our VISA Associate member banks. NIBL in collaboration with Resonance Nepal commenced the process of deploying customized solutions for banking requirements, such as, for advanced POS functionalities.

 

CSR

NIBL is committed to building and maintaining a strong relationship with the larger community and actively promotes public welfare. NIBL extended financial support to Pashupati Area Development Trust (PADT) in order to build solar panels and repair of water taps in Arya Ghat. This initiative was an attempt to help provide basic needs of local communities which usually tends to get overlooked. NIBL also recognizes that our social responsibility is not just a onetime initiative; therefore, in coordination with PADT the bank will be providing additional financial support in the near future for restoration purposes.

As a part of our CSR ethos we have provided scholarship for two students at Srijana College of Fine arts and Sponsorship for Friends Club (Nepal A Division Football Team). NIBL has also provided financial support to Nepal Golf Foundation, Manbhawan Badminton Circle and various initiatives of Nepal Ko Yuwa (NKY) translated as Youth of Nepal. Furthermore, the Bank has been providing regular support to Alliance Francaise and The Art of Living.

 

Other Achievements

ICRA Nepal has re-confirmed its previous credit rating assigned to NIBL at "[ICRANP-IR] A". The "A" rating demonstrates our strong creditworthiness and has provided additional transparency for our shareholders and regulators.

 

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