Pandé resigns from NIBL chief executive director

Prithivi Bahadur Pandé has resigned from the post of chief executive director of Nepal Investment Bank Ltd (NIBL) with effect from today.
Pandé, who was assuming dual responsibilities as both chairman and chief executive director will now continue to serve the board as the chairman only, according to the bank.
General manager of the bank Jyoti Prakash Pandey — who has been working with NIBL for ten years and has an overall experience of twenty five years in the banking industry — will succeed him as a new chief executive officer.
Pandé has worked over ten years with the bank and during over one decade, he has contributed a lot to the success of the bank, the bank said, adding that the change in the guard brings a change in Pandé’s illustrious career spanning over 34 years in banking.
"Pandé's vision and leadership has guided the bank to become one of the leading financial institutions in the country, enjoying an unprecedented ten-fold growth," said the bank that has shown its full confidence that Jyoti Prakash Pandey will continue the legacy left behind by his predecessor.
Nepal Investment Bank — that operates through 41 branches and a network of 68 ATMs with a largest deposit and customer base — has been one of the leading banks, coming up with innovative products and services.
After the central bank's directive of barring the promoter shareholder from assuming any managerial post, many of the banks and financial institutions have to undergo changes from today, the beginning of the new fiscal year.