NIBL gives loans to former NA staff

KATHMANDU:

Nepal Investment Bank Ltd (NIBL) together with the Nepal Army Welfare Board has initiated Deprived Sector Lending to ex-staff of Nepal Army (NA) through a programme at Itahari Barrack and Dharan Barrack on May 21, and Dhankuta Barrack on May 22.

The programme was initiated with an aim to upgrade the living standard and create self-employment opportunities for the retired Nepal Army staff. Cheques were distributed to 15 entrepreneurs during the programme by CoAS General Gaurav SJB Rana along with Chief Executive Officer of NIBL, Jyoti Prakash Pandey.

Loans were provided at 4.50 per cent interest after due diligence and recommendation from the Nepal Army Welfare Board to the ex-army staff as per the guidelines of Nepal Rastra Bank, under various headings.

NIBL has more than 500,000 customers being serviced through 44 branches, 75 ATMs and 10 branchless banking units. As per the unaudited financial statement for the third quarter of this fiscal year, it has a total deposit base of Rs 71.32 billion with total loans and

advances at Rs 53.56 billion. Of the total loans and advances, Rs 2.17 billion was provided to the deprived sector.

NIBL is the only Nepali bank that has won four ‘Bank of the Year’ awards. It has received ICRA credit rating Nepal ‘A’ for three consecutive years.

Source: THT