Issuing a press release, the bank said it has grown fundamentally strong and established itself as a forward looking financial institution over all these years. The bank´s merger with HISEF Finance in 2004 is a milestone as the first ever corporate merger in Nepal. [break]
The bank also introduced the first complete internet banking services in 2002 and introduced mobile banking service in 2009, enabling customers to actually undertake financial transactions such a fund transfers and bill payments through SMS.
The bank is also running a ´responsible banking´ campaign and launched initiatives like Stop Bad Checks to enhance credibility of checks as a payment instrument. The bank also promotes paper-less work environment and offers green loans to purchase solar home systems to promote use of alternative energy.
The release states that the bank´s balance sheet has grown to Rs 20 billion, with total deposits of Rs 16.75 billion and loans of Rs 14.5 billion.
Its paid up capital stands at Rs 1.61 billion, capital adequacy ratio above 14 percent and CD ratio 86 percent. The bank also claims having one of the lowest non-performing assets in the industry.
In the third quarter of 2009/10, the bank expects to announce operating profit of Rs 410 million -- an increase of over 65 percent over the same period last year. The bank has unveiled plans to expand mobile financial services, set up a micro-finance subsidiary and new branches.
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