Nepal Bankers’ Association (NBA) today felicitated renowned banker Prithvi Bahadur Pandé for his remarkable contribution to the banking sector over the last four decades and also the role he has played in strengthening financial sector.
During the 23rd annual general meeting of NBA today, central bank governor Dr Chiranjibi Nepal felicitated the chairperson of Nepal Investment Bank Ltd (NIBL) Pandé, as one of the pioneers in banking industry.
Pandé, who started his carrer from the central bank as a chartered accountant (CA) in October 1978, is also the former president of NBA. Remembering his days at the central bank, he said that the experience he gained during his time at the central bank laid the foundation, opened up opportunities, boosted his self-confidence and expanded his network, which in turn prepped him for the career shift as a commercial banker.
Following a decade-long service at the central bank, Pandé joined the first Nepali-led joint venture Bank – Himalayan Bank Ltd (HBL) – in 1988. After managing Himalayan Bank for 10 years, Pandé became engaged with Nepal Indo Suez Bank. When Nepal Indo Suez Bank opted to walk out of Nepal, Pandé – along with his friends – dared to buy it and gave birth to the current Nepal Investment Bank, against the then popular belief that Nepalis cannot manage bank. It has now been seven years since he stepped down from his role as an executive chairman of Nepal Investment Bank.
Pandé, on the occasion, also emphasised that the large number of banks is the key challenge for the banking sector today. “The central bank realising this has brought the policy to consolidate the financial institutions,” he said, adding that the central bank is on the right path as the country needs more mergers and acquisitions of banks.
However, according to Pandé, the bankers, especially the promoters, should shed their egos and put the welfare of the industry – rather than themselves at the centre – for the successful mergers. “The lower the number of banks more stronger and better they are, with lower overhead costs that ensure greater outreach and diversity,” he said, adding that the government and the central bank should also provide more incentives to quicken the process of consolidation.
Pandé, on the occasion, also urged banks to keep pace with rapid advancements in technology and come up with new products in tune with the times. “If banks just continue to stick to traditional banking, they will face difficulties in the future.”
During the 23rd annual general meeting of NBA today, central bank governor Dr Chiranjibi Nepal felicitated the chairperson of Nepal Investment Bank Ltd (NIBL) Pandé, as one of the pioneers in banking industry.
Pandé, who started his carrer from the central bank as a chartered accountant (CA) in October 1978, is also the former president of NBA. Remembering his days at the central bank, he said that the experience he gained during his time at the central bank laid the foundation, opened up opportunities, boosted his self-confidence and expanded his network, which in turn prepped him for the career shift as a commercial banker.
Following a decade-long service at the central bank, Pandé joined the first Nepali-led joint venture Bank – Himalayan Bank Ltd (HBL) – in 1988. After managing Himalayan Bank for 10 years, Pandé became engaged with Nepal Indo Suez Bank. When Nepal Indo Suez Bank opted to walk out of Nepal, Pandé – along with his friends – dared to buy it and gave birth to the current Nepal Investment Bank, against the then popular belief that Nepalis cannot manage bank. It has now been seven years since he stepped down from his role as an executive chairman of Nepal Investment Bank.
Pandé, on the occasion, also emphasised that the large number of banks is the key challenge for the banking sector today. “The central bank realising this has brought the policy to consolidate the financial institutions,” he said, adding that the central bank is on the right path as the country needs more mergers and acquisitions of banks.
However, according to Pandé, the bankers, especially the promoters, should shed their egos and put the welfare of the industry – rather than themselves at the centre – for the successful mergers. “The lower the number of banks more stronger and better they are, with lower overhead costs that ensure greater outreach and diversity,” he said, adding that the government and the central bank should also provide more incentives to quicken the process of consolidation.
Pandé, on the occasion, also urged banks to keep pace with rapid advancements in technology and come up with new products in tune with the times. “If banks just continue to stick to traditional banking, they will face difficulties in the future.”
