Nabil Bank Annual Report

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DRIVING
STAKEHOLDER
VALUE
ANNUAL REPORT 2013-14

Cover Theme:
“Nabil stands firmly at the forefront of the industry and has aligned its priorities with those of the Nation. Our approach to sustainable financial intermediation has promoted entrepreneurial ventures, arranged financing of infrastructural projects, and bolstered access to global trade finance. This has enabled us to drive stakeholder value as the industry leader. We take great pride in the fragrant blossoms of our symbiotic stakeholder relationships and cherish more than three decades of operations enriching lives in the country.”

Table of Contents

01

BANK
OVERVIEW

About Nabil Bank

6

Vision, Mission and Value Statement

7

Financial Highlights

9

Message from Chairman

12

Board of Directors

14

Message from CEO

16

Macro-Economic Outlook

18

02

OPERATING AND
FINANCIAL REVIEW

Commentary on key items of Statement of Financial Position of past 5 years

21

Commentary on key items of Income Statement of past 5 years

24

Achievements of Current Year

27

Value Generation and Application

35

Segmental Performance Analysis

37

Interim Position and Performance (Un-audited)

39

Nabil Investment Banking Ltd. (Subsidiary)

41

03

PRODUCTS
AND SERVICES

Lending Products

44

Deposit Products

46

Card & E-banking Products and Services

47

Remittance Products

49

Bancassurance

50

Other Products and Services

50

04GOVERNANCE
The Board of Directors

52

Board Committees

54

Internal Controls

58

Employees

60

Corporate Sustainability

66

Corporate Social Responsibility

05

69

FINANCIAL STATEMENTS
AND OTHER INFORMATION

Statement of Director’s Responsibility

73

Disclosure of information under Section 109(4) of Companies Act 2006

74

Independent Auditors’ Report

77

Financial Statements - Consolidated

78

Financial Statements - Nabil Bank

83

06

SHAREHOLDER
INFORMATION

Structure of Share Capital

175

Shareholder’s Profile

176

Stock Symbol

176

Annual General Meeting

177

Shareholder Enquiries and Communication

178

Taxation on Dividend and Shares

179

07

NABIL INVESTMENT
BANKING LIMITED

Directors’ Report

180

Information under section 109(4) of Companies Act, 2063

183

Independent Auditors’ Report

186

Financial Statements - Subsidiary

188

01

BANK
OVERVIEW

About Nabil Bank

Nabil’s inception as the first foreign joint venture bank
in the year 1984 was one of the important milestones
in the history of Modern Nepalese banking industry.
Founded with the technical collaboration of then Dubai
Bank Ltd., along with the institutions like Nepal Industrial Development Bank, Rastriya Beema Sansthan, and
Nepal Stock Exchange, it soon became a great icon for
customer service in the Nepalese financial industry. Even
at that time, when the modern banking was too far for
general public and technology was just budding, Nabil
bank contemplated about computerizing its operations
from initial days. Reduced transaction time at the counter
and prompt delivery of customer account statements
were the main thrust for the then Nabil team. Today, this
noble thought has become one of the strong foundations
to grow its business manifold. Nabil has extensive
outreach within the national geography through its 48
branch offices, 85 ATM machines and numerous POS
terminals and remittance agents spread across the nation.

The bank’s businesses have also grown multitudinously.
The Bank’s balance sheet size at NRs.87 billion (NRs.268
million in 1984- 85) and shareholders’ fund at NRs.7.6
billion (NRs.28 Million in 1984-85) are ever growing
steadily. However, the journey for Nabil had not been
cozy. There were ebbs and flows in its business during its
journey of glorious 30 years;...
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