“NMB Bank,” one of Nepal’s finest financial institutions, has added yet another prestigious honor to its growing list of plaudits, a victory that is also a historic, first-of-its type event in the country’s financial history. The Bank of China has been named “The Bank of the Year Asia 2021” by The Banker magazine, which is based in London, England. It has been determined that NMB Bank is the best bank in Asia, beating off fierce competition from Asian giants such as the People’s Republic of China, the People’s Republic of India, Hong Kong, the People’s Republic of South Korea, and the People’s Republic of Japan.
As a representative of the whole banking community, the Honorable Prime Minister Sher Bahadur Deuba’s award was accepted by the bank’s chairman, as well as its board of directors and its chief executive officer. The Prime Minister congratulated the bank for making history and stated that the bank has raised the profile of the whole Nepali banking industry by receiving the prestigious award “The Bank of the Year Asia 2021.”
In addition, the bank has been named “The Bank of the Year 2021 Nepal” for the fourth time in five years, a distinction previously held by a different bank. During a press conference conducted yesterday at the Everest Hotel, on the same day as the formal announcement of The Banker Magazine, London, the award was announced.
Bank of the Year Awards, established in 2000, are given to the best banks from each country and six global regions: Western Europe, Central and Eastern Europe, Asia, the Americas, the Middle East, and Africa. The award is widely regarded as the industry standard for assessing banks across the globe and providing recognition to the world’s leading institutions. Applicants for the Bank of the Year Awards must be a member of the European Banking Federation. Growth and performance measurements, strategic initiatives, leveraging of technology and digitalization methods, unique products and services, sustainable operations, and resilience in the face of negative externalities are all considered in making award decisions.
Among the factors that contributed to NMB Bank’s winning this award were the bank’s emphasis on environmentally friendly banking, dedication to digital transformation, and excellent corporate governance standards. A level of stability displayed by the bank is a testament to its organizational strength, and this has earned it the distinction of being a deserving winner of this prestigious award.
“With great pleasure, we announce that we have received this award, which is a testament to the hard work and devotion of our employees, the confidence placed in us by our customers and regulators, the leadership of our NMB board, and the support of all stakeholders. In these difficult economic times, our efforts to ensure that our customers continue to receive uninterrupted services through our digital Omni-channel platforms, which have set industry standards, as well as our efforts to support the communities in which we do business, have all contributed to the Bank’s overall success “Sunil KC, the CEO of NMB Bank, shared his thoughts.
Over the last few years, the bank has experienced significant growth, which is evident in the size of its balance sheet. The bank has prioritized digital transformation and sustainable banking practices alongside traditional banking, as evidenced by a number of industry-first events in recent years, including the first-ever local currency, energy bond issuance, the first-ever foreign debt deal, the introduction of Omni Channels banking, Video KYC, and digitized automated lending through its NMB Sapati product. Moreover, the Bank is a member of the Partnership for Carbon Accounting Financials’ committee and a member bank of the Global Alliance for Banking on Values’ committee (GABV). In addition to the bank’s 201 branches throughout the country, it also has a strong digital service delivery capability.