August 26, 2019 | DWAIPAYAN REGMI
Around a month back, Asiamoney awarded the banks of Nepal. Although the news went viral across social media, people still didn’t have had any idea about why the award was granted. Nabil Bank grabbed two important awards ‘Best Domestic Bank Award’ and ‘Best Digital Bank Award’. Award ceremonies should be normal in Nepal, but this was probably the first time that Nepalese banks got International Awards on the lumpsum basis.
The team members of Asiamoney visited Nepal back in April 2019, where they visited several branches, offices across the nation. Gradually, they finalized and granted an award in an international event. This decision over the award was made by a team of senior journalists chaired by Euromoney’s editor.
Why did Nabil Bank Grab Best Digital Bank and Best Domestic Bank Award?
Let’s have a closer look at the reason for the bank having two awards.
Asiamoney termed Nabil Bank trailblazer in Nepal with local standards who was there from the time of a wave of economic liberalization. Set up in 1984, Nabil bank has been on the rise by any possible measure – be that from star pupil or from being top of the class. The following are the key reasons why Nabil Bank got the award.
Best Domestic Bank
Nabil Bank is explained to be only the lender in the private sector who met the central bank’s reserve requirement without buying any commercial rival or issuing additional shares.
Impressive performance, increased customer deposits, and improvement over the past year turned out to be the next important aspect that attracted Asiamoney’s team in this achievement. The report that the bank presented to the team up till July 2018 acted as a key indicator thereby. With proper management of employees, Nabil Bank turned out to be an important contributor to Nepal’s economy.
CEO’s statement and Bank’s Objective
CEO Anil Shah explained Asiamoney that the bank is always seeking new services to maintain the lead. He additionally stated – To continue to be number one, we always look to do things differently, from rolling out new digital services, to shifting our focus to small and medium-sized enterprises and mid-sized corporates, to getting a bigger footprint across Nepal.
Best Digital Bank
Asiamoney stated that Nabil Bank has become an expert at spotting gaps in the market that others have overlooked or ignored.
What Euromoney stated Nabil Bank was – it can take courage to be the first mover, where the bank has that quality in spades. From Korea Remit SErvices to other remittances, it has been making a significant move in proving itself bearing the entire risk.
Nabil Bank joined with UnionPay to introduce QR-code payments to thousands of merchants in a country that turned out to become an important destination for Chinese Tourists. The bank always seems to be curious and concerned regarding offering new and recent services.
Nabil Bank has its Youtube tutorials about the process of getting online. It has been playing video while customers wait over the queue and while services are tailored to people who have never owned a computer and may never own it either.