Nepal Investment Bank Ltd (NIBL) has been awarded with the prestigious Financial Times “Bank of the Year” international award 2016 for the fifth time.

The award was received by the bank’s Chairman Prithivi Bahadur Pande along with the CEO Jyoti Prakash Pandey. The award was announced amidst a special programme held in London on Wednesday.

During last fiscal year, NIBL earned operating profit of Rs4.14 billion compared to previous year’s Rs3.11 billion. NIBL’s paid up capital reached Rs8.71 billion in this period and has core capital of Rs16.3 billion, which is the highest amongst private banks in Nepal, the bank said in a statement.

NIBL has non-performing asset of 0.68 percent as of mid-July 2016. NIBL is the first and only bank to meet the target given by Nepal Rastra Bank to reach the paid up capital above Rs8 billion even before the target date amongst private banks, it said.

As the bank achieved yet another milestone providing more than 30 years of excellent banking services, it has been striving for growth, enhancing customer services and strengthening relationship with all its stakeholders, the statement of the bank reads.

With the customer base of about 750,000, it has been serving people through

its 48 branches and many branchless banking services across the country. The

bank’s ATM network has now reached 83 across the country and has over 550,000 debit cardholders.