Pearl Jubilee of Nepal Investment Bank: A journey started with Joint Venture
Nepal Investment Bank at a Glance:
- Established on February 26, 1986
- 46 branches and 82 ATMs,
- Branchless Banking services through 24 locations
- 6.8 lakhs customers base with more than 5 lakh Visa Card holder
- Highest loan disbursed, Rs 77.48 arba, among the Bank and Financial Institutions as of Q2 FY 2072/73
- Awarded Bank of the Year in 2003, 2005, 2008, & 2010 by The Banker
- ICRA Nepal assigns [ICRANP-IR] A rating to Nepal Investment Bank Limited
The Journey:
Nepal Investment Bank Ltd. (NIBL), previously Nepal Indosuez Bank Ltd., was established in 1986 as a joint venture between Nepalese and French partners. The French partner (holding 50% of the capital of NIBL) was Credit Agricole Indosuez, a subsidiary of one the largest banking group in the world.
With the decision of Credit Agricole Indosuez to divest, a group of companies comprising of bankers, professionals, industrialists and businessmen, had acquired on April 2002 the 50% shareholding of Credit Agricole Indosuez in Nepal Indosuez Bank Ltd.
The name of the bank has been changed to Nepal Investment Bank Ltd. upon approval of bank’s Annual General Meeting, Nepal Rastra Bank and Company Registrar’s office. After the takeover by Nepalese group(s), the bank redefined the banking sector of Nepal.
The promoter shareholders have 80% holding in the bank. The remaining 20% being held by the General Public.
At present NIBL has issued 90,69, 388 units shares as a part of Further Public Offering (FPO) from Falgun 11, 2072. The FPO is being issued at Rs 601/unit. The issue is set to close today. After FPO the promoter to public share holding ratio will change to 70:30. After FPO the paid up capital and reserve of the NIB will reach Rs 7.25 arba and Rs 9.11 arba respectively.
Fundamentals of NIBL throughout the years
