NMB Bank celebrates 20 years (27.12.2015)
NMB Bank marked its 20th Anniversary through a series of programs and CSR activities across the country. Having recently completed a historical merger with four BFIs the Bank has created many milestones in its 20 years of operation. As part of its 20th Anniversary celebration, the Bank has tried to contribute towards touching many lives across the country through events ranging from distribution of educational kit to children of the deprived sector, distribution of winter clothes to the needy to facilitating clean drinking water and providing food grains to orphanages. The Bank’s staff celebrated the 20th Anniversary in a Futsal tournament which saw keen participation from all.
The Bank is committed towards its efforts in contributing to the economy of the country through support in diverse segments including renewal energy, SME, retail and deprived sector lending, said a statement issued by the Bank.
NMB Bank organizes Blood Donation Program (27.12.2015)
NMB Bank in association with Red Cross Society Birtamod organized a blood donation program in its Birtamod branch to mark its 20th Anniversary. Active volunteers from staff, customers, business partners and walk in donors were seen donating blood. The response has been overwhelming with more than 40 donors participating and we are grateful to all who supported our endeavor to help save lives by donating blood, said a statement issued by the Bank.
Agreement between NMB Bank Limited and Nepal Clearing House Limited on Inter Bank Payment System (NCHL-IPS (10th December 2015)
NMB Bank Limited has signed Interbank Payment System (NCHL-IPS) Agreement with Nepal Clearing house Limited. As per the agreement, Nepal Clearing House Limited will provide NMB Bank Limited with NCHL-IPS to carry out interbank payment services. The agreement was signed by Bank’s Chief Executive Officer, Mr. Upendra Poudel on behalf of the bank and Nepal Clearing House Limited’s Chief Executive officer, Mr. Nilesh Man Singh Pradhan on behalf of Nepal Clearing House Limited.
NCHL-IPS will facilitate both payment (direct credit) and collection (direct debit) based transactions from any bank account to any other bank account between its member banks and financial institutions. The member banks and financial institutions can avail any of the payment and collection services like customer’s fund transfer, dividend payment, IPO refund, utility bills payment, premium payment, pension/salary payment, remittance etc through this system.
NCHL-IPS will facilitate convenient, safe and transparent operation of large volume financial transactions. It will also help member banks and financial institution to provide their customers with payment services based on international technology and standards.
NMB Bank commences joint operation after historic merger (18th October, 2015)
Marking an unprecedented event in the Nepalese Banking industry wherein 5 financial institutions have commenced operation as a single financial institution - Clean Energy Development Bank Limited, Bhrikutee Development Bank Limited, Pathibhara Bikas Bank Limited, and Prudential Finance Company Limited have commenced joint operation under the flagship name of “NMB Bank” on 1st Kartik 2072.
An important aspect of this merger is the Bank’s alliance with Employment Provident Fund (EPF) within the country and international partners, FMO (Financierings Maatschappij-voor Ontwikkelingslanden) of the Netherlands and Yong Lian. FMO-the International Development Bank of the Government of The Netherlands one of the largest bilateral development banks worldwide. FMO’s alliance boosts the Bank’s exposure specifically in energy sector investment and international trade which directly boosts its strength in the Equity Capital Market.
NMB Bank is now one of the leading commercial banks in the country, with total capital and reserves of Rs.6.2 billion, consolidated deposit of Rs. 54 billion and loans and advances of Rs.41billion. The Bank’s footprints have increased to 69 branches, 7 extension counters and 42 ATM counters across the country.
Having strategically planned out the merger process from 2071/72, NMB Bank is now well positioned to achieve the NRB capital requirement of NPR 8 Billion as has been affirmed in a statement released by the Bank.
NMB Bank receives historic merger approval from NRB (1st October 2015)
Kathmandu, October 01, 2015: NMB Bank creates history in the Nepalese Financial Market with the final approval for its merger from Nepal Rastra Bank. Marking an unprecedented event in the Nepalese Banking industry wherein 5 financial institutions shall commence operation as a single financial institution - Clean Energy Development Bank, Bhrikuti Development Bank, Pathibahra Development Bank and Prudential Finance Company shall merge to commence operation under the flagship name of “NMB Bank” from 1st Kartik 2072. This move well establishes the Bank’s position as one of the leading commercial banks in the country, with bigger capital base to serve its customers better in every aspect.
The approval which confirms the merger process initiated in the FY 2071-72 strategically incorporates regional representation of the two biggest regional level development banks strengthening the Bank’s Retail base as well as increasing its footprint at a Pan- Nepal level. An important aspect of this merger is the Bank’s alliance with Employment Provident Fund (EPF) within the country and international partners, FMO (Financierings Maatschappij-voor Ontwikkelingslanden) of the Netherlands and Young Lian. FMO-the International Development Bank of the Government of The Netherlands with investment portfolio strength of EUR 3.4 Billion is one of the largest bilateral development banks worldwide. FMO’s alliance boosts the Bank’s exposure specifically in energy sector investment and international trade which directly boosts its strength in the Equity Capital Market.
The merger approval positions NMB Bank as a forerunner to address the current Nepal Rastra Bank requirement of increasing the capital base to Rs. 8 Billion in the next two years. Post merger, the Bank’s total capital and reserves stands at Rs.6.2 billion, with consolidated deposit of Rs.54 billion and loans and advances of Rs.41billion establishing it as one of the largest Banks in the country. The Bank’s footprints will increase to 68 branches, 7 extension counters and 40 ATM counters across the country.
NMB Bank organizes Dar Program on Hari Talika Teej (11th September, 2015)
NMB Bank Birtamod Branch organized a dar program for elderly people at Bridha Ashram operated by Paropakar tatha Anusandhan Kendra on the occasion of Hari Talika Teej on 11th September, 2015. The program was conducted as a part of CSR activity of the bank in which the staff actively participated. Shawls and lunch (dar) were distributed to 16 elderly people in the Ashram. CSR activities have been an integral part of the bank over the past few years.
NMB Bank launches Sulav Remit Service from Malaysia (24th August, 2015)
NMB Bank and CBL Money Transfer have signed an agreement for remittance service all over Nepal from Malaysia through NMB Bank Sulav Remit. Mr. Upendra Poudel, CEO of NMB Bank and Mr. Saidur Rehman Faraji, CEO of CBL Money Transfer signed the agreement in a function. After this agreement, people living in Malaysia can send money all over Nepal from CBL Money Transfer through NMB Bank Sulav Remit.
Nepalese living in Malaysia can send money to their homes from any branch of CBL Money Transfer spread across Malaysia. The money thus sent can be withdrawn from NMB Bank or 4,000 of its agents spread across Nepal. It can also be directly deposited in a bank account and sent home safely.
The bank will also provide remittance service from the Gulf and other countries in the near future. NMB Bank Sulav Remit service is presently providing internal remittance service across Nepal from Dubai, Kuwait, Korea, Malaysia and the rest of the world in collaboration with Instant Cash. NMB Bank has recently commenced operation of its first representative office in Malaysia.
NMB BANK INTRODUCES DEMAT SERVICE THROUGH MOBILE BANKING (3RD AUGUST, 2015)
NMB Bank has added additional feature to its Mobile Banking service by introducing the facility of viewing the Demat account through mobile phones. NMB Bank is the first bank in the country to facilitate this service enabling its customer to view their Demat account from their mobile phones.
Accessing Demat account through Mobile Banking makes it convenient for shareholders to track their stock/shares with ease, anytime, anywhere through Mobile Banking. Once the share holders open a Demat account with the Bank it becomes easier for them to keep their shares in de -materialized form and carry out their share transactions later.. Additionally Demat account holders will directly get their right share, stock dividend in their account as well.
Demat account can be opened from any of NMB Bank’s branches and NMB Capital Limited - a Depository participant and wholly owned subsidiary of NMB Bank.
SAKCHYAM AND NMB BANK PARTNERSHIP LAUNCH PRODUCT IN DHANGADHI (JULY 23, 2015)
Following up on the partnership signed between Sakchyam Access to Finance Programme and NMB Bank Limited - Sakchyam Dairy Financing to Milk Cooperatives and Farmers of Mid & Far Western Regionon July 15, 2015, a product launch event was organized in Dhangadhi today.
With this innovative product partnership, MSMEs and Farmers of Mid and Far-Western region can receive required financial resources and supply milk to DDC which can open new avenues for all the players of the milk value chain.
Present at the event were Mr. Lok Paneru, Head – SME; Ms. Rukmani Maharjan, Bank Partnership Advisor, Sakchyam; Mr. Sunil Shrestha, Branch Manager, NLG Insurance; Mr. Hem Raj Poudel, Incharge – DDC Kailali and Mr. Bharat Bahadur Bista; Chirman, Punarbaas Dairy Cooperative.
NMB Bank will disburse NRs. 250 million in loans in the 3 year duration. The project will directly lend to milk cooperatives in the selected and nearby districts based on their financial requirement.
NMB BANK'S MALAYSIAN PARTNER DONATES NPR 1.5 MILLION TO PRIME MINISTER’S RELIEF FUND (19TH JUNE, 2015)
NMB Bank's Malaysian JV Partner Yong Lian Realty has donated NPR 1.5 million to the Prime Minister's Relief Fund. On the occasion, Mr. T. Puraharan C.P. Ramakrishnan, Representative of Yong Lian and Board of Director of NMB Bank handed over a cheque amounting 1.5 million to the Governor, Nepal Rastra Bank for Prime Minister's Relief Fund.
Further, NMB Bank Group has pledged total support of NPR Eleven Million Five Hundred Thousand for earthquake victims and affected areas.
SAKCHYAM AND NMB BANK PARTNER TO LAUNCH SAKCHYAM DAIRY FINANCING TO MILK COOPERATIVES AND FARMERS OF MID & FAR WESTERN REGION (16TH JUNE 2015)
June 15, 2015 – Sakchyam Access to Finance Programme and NMB Bank Limited have signed a partnership agreement to roll out Sakchyam Dairy Financing to Milk Cooperatives and Farmers of Mid & Far Western Region at an event at Hotel Annapurna today.
Sakchyam’s support to the project is for 3 years and will cover activity in 6 districts – Kailali, Kanchanpur, Banke, Bardiya, Surkhet and Dang. With this innovative product partnership, MSMEs and Farmers of Mid and Far-Western region can receive required financial resources and supply milk to DDC which can open new avenues for all the players of the milk value chain. NMB Bank will disburse NRs. 250 million in loans in the 3-year duration.
Speaking on the occasion Mr. Upendra Poudyal, CEO, NMB Bank said, “The project will directly lend to milk cooperatives in the selected and nearby districts based on their financial requirement. The value chain will include Dairy Development Corporation (DDC), farmers, Milk-cooperatives and the Bank. In this way, we plan to be associated with at least 50 cooperatives and provide lending to at least 400 MSMEs in target districts.”
Talking about the new partnership, Sakchyam Team Leader Mr. Baljit Vohra said, “Through this partnership with NMB Bank, we are launching financial services that are specifically tailored for milk cooperatives and farmer communities in collaboration with the DDC. We are also happy to be launching an SMS-based knowledge sharing module to enable farmers to make better informed decisions. We are confident that our partnership with NMB Bank will also strengthen the financial capabilities of all players in the milk value chain and bring significant change in the livelihoods of the rural poor in the region.”
Present at the event were Mr. Surya Prasad Acharya, Joint Secretary, Ministry of Finance; Dr. Binod Atreya, Executive Director, Micro Finance Promotion and Supervision Department, Nepal Rastra Bank; Mr. Upendra Poudyal, CEO, NMB Bank Ltd. and President, Nepal Bankers’ Association; Mr. Prasanna KC, Private Sector Advisor, DFID Nepal; Mr. Baljit Vohra, Team Leader, Sakchyam Access to Finance Programme, members of the Sakchyam Team, NMB Bank personnel and the local media.
The Sakchyam Access to Finance Programme is an initiative funded with UK aid as part of a bilateral agreement between the Governments of Nepal and the UK. It is implemented by Louis Berger for the Department of International Development (DFID Nepal) in partnership with local and international institutions.
NMB Bank Limited is an “A” class financial institution operating in Nepalese Financial market for over nineteen years and is one of the leading commercial banks in Nepal. The Bank has added focus in Micro and SME through its partnership with leading organization in the development sector. For more information, visit www.nmb.com.np
NMB BANK’S SPECIAL GENERAL MEETING (8TH JUNE, 2015)
NMB Bank, through a Special General Meeting (SGM) on Sunday, approved the plan to merge with Pathibhara Bikas Bank, Bhrikutee Development Bank and Prudential Finance Company. The bank said in a statement the merger is expected to enhance the capital base, competitive capacity and expansion of the market across the bank.
The SGM also approved the bank’s merger with Clean Energy Development Bank. Six months ago, NMB signed a Memorandum of Understanding (MoU) with Prudential Finance. The bank also signed a similar deal with Clean Energy Development Bank, Pathibhara Bikas Bank and Bhrikutee Development Bank.
Following the unification, the bank’s total capital and reserve will swell to NPR 6 billion. The bank has been providing banking services through 29 branches, 4 extension counters and 37 ATMs. Following the merger, it will have 69 branches and 7 extension counters.
Currently, NMB’s paid up capital stands at NPR 2 billion, while that of Prudential is NPR 483 million. Clean Energy has paid up capital of NPR 1.14 billion. Bhrikutee’s paid up capital is NPR 423.78 million and Pathibhara Bikas has NPR 115 million.
NMB BANK CONTRIBUTES TARPAULINS TO DEPARTMENT OF ARCHAEOLOGY FOR PROTECTION OF HERITAGE MONUMENTS AFFECTED BY EARTHQUAKE (5TH JUNE 2015)
The Bank has been working towards preservation activities of heritage sites over the last few years. In the wake of the aftermath of the earthquake that struck the nation on April 25, 2015 and left many of our heritage monuments devastated, the bank has extended support and handed over tarpaulins to Department of Archaeology to cover the external façade of the monuments in Hanuman Dhoka Durbar Square, Patan Daurbar Square and other affected areas. This is believed to be helpful in protecting from rain and minimize any further damage to the structures. Mr. Bhes Narayan Dahal, Director General of the Department of Archaeology and Mr. Upendra Poudyal, CEO, NMB Bank exchanged gratitude during the moment.
NMB BANK COMMENCED OPERATION IN MALAYSIA(8TH MAY 2015 )
NMB Bank Limited on Thursday commenced operation of its 1st representative office in Kuala Lumpur, Malaysia.
Mr. T. Puraharan C.P. Ramakrishan, Board of Director of the Bank and Jegadevan Nadchhatiram, Director of Yong Lian Realty were present during the opening of the office at WISMA Straits Trading Building, Lebuh Pasar Besar of Kuala Lumpur.
The Representative Office will serve as a contact point and support in introducing with Malaysian local banks and provide advisory service to the clients in trading with Malaysian counterparts, resulting in promoting bilateral trade between the two countries and will contribute in sharing information regarding Nepalese financial service and its economy. NMB RO will be serving as a point of contact and liaison for any issues that may arise from business dealing between Malaysian companies and the offices of the foreign institution overseas.
The representative office will also focus on exploring various business opportunities between Malaysia and Nepal within the framework suggested by Nepal Rastra Bank and Bank Negara Malaysia.
CEOs, representatives of many exchange houses and other dignitaries were also present on the occasion.
4TH NMB BANK HERITAGE WALK 2015 (19TH APRIL, 2015)
NMB Bank in association with Lalitpur Sub Metropolitian City Office organized the ‘4th NMB Bank Heritage Walk 2015’ on the occasion of World Heritage Day. The Bank has committed to pledge its support for the preservation of rich heritage sites as part of its Corporate Social Responsibility since the past few years. First initiated on the occasion of its 16th Anniversary, the Bank has been organizing the Heritage Walk in association of the Kathmandu Metropolitan City Office since the past three years. The sole purpose of this event was to raise awareness about the importance of preservation of our heritage sites among the local communities.
The 4th NMB Bank Heritage Walk 2015 was inaugurated by the Bank’s Board of Directors, and representatives from Varun Beverages(Nepal) Pvt Ltd and Integrated Mobility Solutions Pvt Ltd who were major sponsors for the event by cutting the ribbon at the Bank’s head office in Babarmahal. The Heritage Walk route started from Babarmahal through Thapathali, Kupondole, Pulchowk, Purnachandi ,Kumaripati, IttiTole and finally assembled at Patan Durbar Square for the closing ceremony with participation of invited guests, bank’s executives, staff & media.
At the ceremony held at Patan Durbar Square, noted cultural expertMr. Satya Mohan Joshi– Chief Guest for the program along with other distinguished guests including Mr.Rudra Prasad Gautam -Acting CEO of Lalitpur Sub Metropolitian City Office, Mr. Bhes Narayan Dahal, Director General, Department of Archaeology, Representatives from UNESCO Nepal, NMB Bank’s Board of Directors andCEOMr. Upendra Poudyal emphasized on the importance of heritage conservation. Board of Directors Mr. Rajendra Kafle chaired the closing ceremony.
The Bank felicitated legendary cultural expert Joshi and also contributed a sum of Rs.25, 000 to his charity - The Nepalese Folklore Society. Speaking on the occasion, the Chief Guestcongratulated the Bank for continuing its initiative through the years.He further stressed that the Bank’s initiative has proved to be a positive step in helping local communities understand the importance of heritage preservation.He also suggested all to view on intangible heritage preservation which is either ignored or disappearing.
Awards for the Top 4 Paintings of the 3rd NMB Bank Inter School Heritage Painting Competition 2014 held at the regional level in Biratnagar, Narayanghat, Janakpur and Nepalgunjfrom December 2014 - February 2015 were announced. The winners of the Top 4 Paintings were - Priyanka Chaudhary, Panchakanya V Mandir, Narayanghat; Sabina Bano, Saraswati Higher Secondary School, Nepalgunj; Prajwal Ghimire, Little Flowers English School, Birtamod; Pradip Sah, ShreeSankatMochanDevshran Ram Rati H. School, Janakpur. The award for the ‘Most Popular Painting on Facebook’ based on the highest number of ‘LIKE’ received went to Anjali Karn, South Zone Secondary School, Birgunj whose painting received 10,081 LIKEs on Facebook. The winners were awarded cash prize of Rs.20,000 each.
Likewise Mr. Upendra Poudyal CEO of the bank expressed the bank’s commitment to support the heritage preservation drive in the future as well and thanked all the participants, sponsors for their support towards the cause. The bank announced to work at renovating a heritage site/temple in Lalitpur from the proceeds of the event.
NMB Bank has been continuously endeavoring to win the trust of its valued customers through its highly innovativeproducts & services. Besides banking services, the bank has also been contributing towards the society in different occasions.
NMB BANK TO ORGANIZE ‘4TH NMB BANK HERITAGE WALK’ (7TH APRIL, 2015)
NMB Bank in association with Lalitpur Sub Metropolitan City Officeis going to organize the ‘4th NMB Bank Heritage Walk’ on the occasion of World Heritage Day, 18thApril, 2015. The Bank has committed to pledge its support for the preservation of rich heritage sites as part of its Corporate Social Responsibility since the past few years. For the past three years, the Bank has been organizing the Heritage Walk in association with the Kathmandu Metropolitan City Office. The sole purpose of this event is to raise awareness about the importance of preservation of our heritage sites among the local communities.
NMB BANK'S SUPPORT FOR EDUCATION (23 MARCH 2015)
NMB Bank Dharan branch donated furniture to Nisahay Sahayog Parishad as part of the Bank’s ongoing celebration of its 19th Anniversary. The Parishad has been working towards providing support to underprivileged children through scholarships in private schools in Dharan. Similarly the Bank’s Banepa branch distributed Educational Kit to children of the orphanage ‘Metta Center for Children Home”. NMB Bank has been working towards supporting education for children through initiatives like the Book Donation Drive and has previously sponsored ten children of Bal Mandir, Naxal
3RD NMB BANK INTER-SCHOOL HERITAGE PAINTING COMPETITION (14 MARCH 2015)
NMB Social Initiative organized the 3rdNMB Bank Inter-school Heritage Painting Competition,a region wise event on 14th March 2015, at the Jay Bageshwari H.S School premises, Nepalgunj . The event was a part of the initiative on corporate social responsibility on heritage preservation undertaken by the Bank. More than 35 schools from Nepalgunj participated in the competition. NMB Social Initiative believes that the schools and their combined efforts will help them take a step forward towards spreading awareness about preserving the rich heritage sites of Nepal. The final result will be announced during the Bank’s Heritage Walk, 2015.
NMB BANK LAUNCHES NMB BANK SULAV KARJA – BYAWASAY MA NAYA URJA (23 FEBRUARY 2015)
NMB Bank has launched “NMB SulavKarja” and “Personal Business Loan” as part of its SME Banking portfolio. NMB Bank SulavKarja provides loan facility from NPR 5 lakhs to a maximum of NPR 33 lakhs with a processing period of 3 days. The loan will be available to registered small and medium enterprises. The Bank also introduced ‘Personal Business Loan to finance individual entrepreneurs with loan amount ranging from NPR 3 lakhs to 15 lakhs. The loan can be availed by unregistered small and medium enterprise as well.NMB Bank SulavKarja and Personal Business Loan” are designed to cater to small and medium enterprises and individuals who have limited or no access to finance and empower such businesses /individuals for growth” said a statement issued by the Bank.
3RD NMB BANK INTER-SCHOOL HERITAGE PAINTING COMPETITION (19 FEBRUARY2015)
NMB Social Initiative organized the 3rdNMB Bank Inter-school Heritage Painting Competition,a region wise event on 19th February 2015, at the Janaki Mandir premises, Janakpur . The event was a part of the initiative on corporate social responsibility on heritage preservation undertaken by the Bank. More than 30 schools from Janakpur and Lahan participated in the competition. NMB Social Initiative believes that the schools and their combined efforts will help them take a step forward towards spreading awareness about preserving the rich heritage sites of Nepal.The competition will be carried forward in other regions as well in the coming months. The final result will be announced during the Bank’s Heritage Walk, 2015.
3RD NMB BANK INTER-SCHOOL HERITAGE PAINTING COMPETITION (9 FEBRUARY 2015)
NMB Social Initiative organized the 3rdNMB Bank Inter-school Heritage Painting Competition, a region wise event on 7th February 2015,at the premises of Little Flower School, Bharatpur, Chitwan. The event was a part of the initiative on corporate social responsibility on heritage preservation undertaken by the Bank. More than 30 schools from the Central region, which includes Narayanghat, Butwal , Pokhara and Birgunj participated in the competition. NMB Social Initiative believes that the schools and their combined efforts will help them take a step forward towards spreading awareness about preserving the rich heritage sites of Nepal. The competition will be carried forward in other regions as well in the coming months. The final result will be announced during the Bank’s Heritage Walk, 2015.
IFC PARTNERS WITH NEPAL'S NMB BANK TO BOOST TRADE FINANCE OPPORTUNITIES, SUPPORT SMALL BUSINESSES (27 JAN 2015)
Kathmandu, Nepal, January 26, 2015—IFC ,a member of the World Bank Group, will provide a million trade finance facility to Nepal’s NMB Bank Limited under its Global Trade Finance Program to help boost international trade business for the bank and support small and medium business clients. NMB Bank will establish trade partnerships with over 250 international banks through this program. IFC’s Global Trade Finance Program promotes trade in emerging markets, complementing the capacity of banks to ensure liquidity to export-oriented small and medium enterprises. The program’s network enables local financial institutions to tie up with major international banks to offer competitive financing. “The bank’s expanding presence in trade finance makes it a key partner for IFC. Together we can support strengthening of Nepal’s financial sector,” said Upendra Poudyal, Chief Executive Officer of NMB Bank Limited. “The facility will help us support smaller businesses by offering letters of credit and guarantees.” “IFC’s partnership with NMB Bank will help accelerate economic growth in Nepal by providing small and medium enterprises with reasonably priced trade finance solutions for working capital requirements and assist in payments for imports,” said Valentino S Bagatsing, IFC Resident Representative for Nepal. “The trade finance facility with NMB Bank is a signal of confidence in the Nepalese banking industry.”