Nabil leader in Best Accounting

What better gift than the 'Best Accounting Award' for Nabil Bank that completed its 24th year of operations? Nabil Bank bagged the award on Friday.
"Since 1984, Nabil has not looked back," chief executive officer Anil Shah says, adding it has introduced many firsts to the financial sector in Nepal.
Apart from most advanced technology, it is also extending its base in rural areas, at a time when most banks are blamed for being urban-centric. "We believe that to be the bank of first choice in Nepal, we must be present where the bulk of the population is," he says.
Shah also sings paeans to his staff. "Nabil's main strength is its team. Most other banks are headed by or have senior management teams who started their career in Nabil," he claims adding that Nabil is not only delivering higher level of customer service but it is also 'manufacturing' the maximum number of Nepali bankers.
He thinks customer service and returns to shareholders are the contributions of Nabil Bank over 24 years. "For those who invested at our inception or throughout, our share was Rs 750 but today it is over Rs 5,000," he justifies adding, "Our regulators see us as a model bank."
Though during the insurgency banking was the only sector that was least affected, Shah thinks otherwise. "Banks do well if customers do well. There are 25 banks now. We take depositors' funds, give them interest, then lend those funds and when those borrowers do good business they repay us the principal with interest," he says adding that banks are catalysts of the economy. "The bank is the economy's heart and pumps blood through the system. If the heart does not work, nothing else will."
"We invest in projects that entrepreneurs bring up. For that, they must feel the confidence to bring in infrastructure projects," he says. "If they feel that in three years time the government will revoke their license, no one will invest."
Encouraged by the investors' confidence, Nabil Bank is going to rural areas for micro-lending, agriculture lending, small business lending and lending on infrastructure. "Infrastructure is our second focus area — be it hydro power, roads, cement, telecommunications. Our motto for hydro power is 'Nepal Ko Pani; Pragati Ko Khani'."
"We are in fact going to structure our services in such a way that we build our skill internally to do project financing. We are able to lead consortiums. People keep saying Nepali banking sector has nothing to do in large projects. I would remind them however big a project, it is in Nepal and that also in rural areas. Foreign investors will need local partners. That is what Nabil is gearing up for."
Shah feels that when infrastructure is developed the financial sector is not excluded. "We have to build our skill and size so that we are also included in the development."
Entering its 25th year, Nabil is better poised than other banks and he believes it will be a financial warehouse five years hence.