Kathmandu, Nov. 12
Nepal Bank Limited, the first bank of the country, has completed its 85 years in service.
During those years, the bank has made an unparalleled contribution to the economy of the country, the bank said in a statement on Friday.
"On this occasion, we make a commitment to be the partner in the economic development of the country and expand financial services to all classes and sectors across the nation," it said.
By the end of the last Fiscal Year 2020/21, the share capital of the bank has reached Rs. 1264 billion, reserve fund Rs. 21.5 billion, deposits Rs. 173 billion and loan mobilisation Rs. 148 billion.
Similarly, it has earned Rs. 6.46 billion from interest and earned operational profits of Rs. 4.49 billion in the last fiscal year. It managed Rs. 3.06 billion net profit in the last fiscal. It has 2 per cent non-performing loan.
The bank was established in 1936 as a public private partnership company during Rana Regime. It was inaugurated by then King Tribhuvan.
Initially, the bank had 40 per cent and 60 per cent investment from the government and public respectively which later changed to 51 per cent and 49 per cent.
After two decades of crisis, the bank has started to distribute dividend from the FY 2019/20. Nepal Bank has been supporting in various programmes like tree plantation, blood donation, women empowerment, health campaign, relief to disaster affected people, post-quake reconstruction, children support and relief to COVID-19 victims.
Published in The Rising Nepal daily on 13 November 2021.
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