annual report.ai

53
NMB BANK ANNUAL REPORT - 2013/14 NMB Bhawan, Babarmahal G.P.O. Box: 11543, Kathmandu, Nepal Phone: +977-1-4246160 Fax: +977-1-4246156 www.nmb.com.np INSIDE VALLEY: Babarmahal NMB Bhawan, Babarmahal, Kathmandu Tel: +977-1-4246160 Fax: +977-1-4246156 Bhaktapur Surya Binayak, Bhaktapur Tel: +977-1-6617285/6617286/6617466 Fax: +977-1-6617286 Chabahil Chabahil Kathmandu Tel: +977-1-4482365/4468725 Fax: 977-1-4462682 Kalanki Kalanki, Kathmandu Tel: +977-1-4302254/55 Fax: +977-1-4302253 Kantipath Kantipath, Kathmandu Tel: +977-1-4238025 Fax: +977-1-4238348 Kumaripati (Lalitpur Region) Kumaripati, Lalitpur Tel: +977-1-5524866 Fax: +977-1-5527266 Lubhu Chautara, Chardobato, Lubhu, Lalitpur Tel: +977-1-5581816 Fax: +977-1-5581817 Maharajgunj Narayan Gopal Chowk, Chakrapath, Kathmandu Tel: +977 1-4372227/4379172 Fax: +977-1-4650889 Newroad Joshi Plaza, New Road, Kathmandu Tel: +977-1-4250403,4249734 Fax: +977-1-4250414 Putalisadak Branch Besides Hero Show Room Putalisadak, Kathmandu Tel: +977-1-4439496/7 Fax: +977-1-4439496/4439497 Thaiba Thaiba, Lalitpur Tel: +977-1-5561033/5560587 Fax: +977-1-5560702 Thamel Amrit Marg, Thamel, Kathmandu Tel: +977-1-4414719/4414926 Fax: +977-1-4414997 Extension Counters: Kathmandu District Court Babarmahal, Kathmandu District Administrative Office Babarmahal, Kathmandu Outside Valley: Banepa Tindobato, Banepa, Kavrepalanchowk Tel: +977-11-660771 Fax: +977-11-660773 Biratnagar Rangeli Road, Biratnagar, Morang Tel: +977-21-440458 Fax: +977-21-440557 Birgunj Adarsha Nagar, Birgunj, Parsa Tel: +977-51-528871/528882 Fax: +977-51-528820 Birtamod Bhadrapur Road, Birtamod, Jhapa Tel: 023-545670/545671 Fax: 023-545672 Butwal Milan Chowk, Butwal, Rupandehi Tel: +977-71-551505 Fax: +977-71-551507 Dailekh Naya Bazaar, Dailekh Tel: 089-420564 Fax: 089-420565 Dhangadhi (Far Western Region) Bus Park Road, Dhangadhi Tel: +977-91-521216/521243 Fax: +977-91-521646 Dharan Mahendra Path, Near Bus Park, Sunsari Tel: +977-25-533262 Fax: +977-25-533258 Dhunche Dhunche Bazaar, Rasuwa Tel: +977-10-540032/33 Fax: +977-10-540034 Doti Pipalla Bazar, Dipayal, Silgadhi Tel: +977-94-412277 Fax: +977-94-440486 Janakpur Bhanu Chowk, Janakpur Tel: +977- 41-530317/18/19 Kirne Sahare, Kirne, Dolakha Tel: +977-048-410026 Lahan Main Road, Lahan Tel: +977-33-562385/86 Fax: +977-33-562387 Manthali Manthali Bazaar, Manthali Tel: 048-540484 Fax: 048-540041 Narayanghat Shaheed Chowk, Narayanghat, Chitwan Tel: +977-56-571883/84 Fax: +977-56-571993 Nepalgunj Surkhet Road, Nepalgunj, Banke Tel: +977-81-527981 Fax: +977-81-527983 Pokhara Chipledhunga, Pokhara, Kaski Tel: +977-61-541528 Fax: +977-61-541529 Extension Counters: Timure Extension Counter Timure, Rasuwa Tel: 01-6922836 Silgadhi Extension Counter Silasthan, Silgadhi, Doti Phone: 094-420488

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Page 1: Annual Report.ai

NMB BANK ANNUAL REPORT - 2013/14

NMB Bhawan, BabarmahalG.P.O. Box: 11543, Kathmandu, NepalPhone: +977-1-4246160 Fax: +977-1-4246156 www.nmb.com.np

INSIDE VALLEY:

BabarmahalNMB Bhawan, Babarmahal, KathmanduTel: +977-1-4246160 Fax: +977-1-4246156

BhaktapurSurya Binayak, BhaktapurTel: +977-1-6617285/6617286/6617466 Fax: +977-1-6617286

ChabahilChabahil KathmanduTel: +977-1-4482365/4468725 Fax: 977-1-4462682

KalankiKalanki, KathmanduTel: +977-1-4302254/55 Fax: +977-1-4302253

KantipathKantipath, KathmanduTel: +977-1-4238025 Fax: +977-1-4238348

Kumaripati (Lalitpur Region)Kumaripati, LalitpurTel: +977-1-5524866 Fax: +977-1-5527266

LubhuChautara, Chardobato, Lubhu, LalitpurTel: +977-1-5581816 Fax: +977-1-5581817

MaharajgunjNarayan Gopal Chowk, Chakrapath, KathmanduTel: +977 1-4372227/4379172 Fax: +977-1-4650889

NewroadJoshi Plaza, New Road, KathmanduTel: +977-1-4250403,4249734 Fax: +977-1-4250414

Putalisadak BranchBesides Hero Show Room Putalisadak, KathmanduTel: +977-1-4439496/7 Fax: +977-1-4439496/4439497

ThaibaThaiba, LalitpurTel: +977-1-5561033/5560587 Fax: +977-1-5560702

ThamelAmrit Marg, Thamel, KathmanduTel: +977-1-4414719/4414926 Fax: +977-1-4414997

Extension Counters:Kathmandu District CourtBabarmahal, Kathmandu

District Administrative Office Babarmahal, Kathmandu

Outside Valley:

BanepaTindobato, Banepa, KavrepalanchowkTel: +977-11-660771 Fax: +977-11-660773

BiratnagarRangeli Road, Biratnagar, MorangTel: +977-21-440458 Fax: +977-21-440557

BirgunjAdarsha Nagar, Birgunj, ParsaTel: +977-51-528871/528882 Fax: +977-51-528820

BirtamodBhadrapur Road, Birtamod, JhapaTel: 023-545670/545671 Fax: 023-545672

ButwalMilan Chowk, Butwal, RupandehiTel: +977-71-551505 Fax: +977-71-551507

DailekhNaya Bazaar, DailekhTel: 089-420564 Fax: 089-420565

Dhangadhi (Far Western Region)Bus Park Road, DhangadhiTel: +977-91-521216/521243 Fax: +977-91-521646

DharanMahendra Path, Near Bus Park, SunsariTel: +977-25-533262 Fax: +977-25-533258

DhuncheDhunche Bazaar, RasuwaTel: +977-10-540032/33 Fax: +977-10-540034

DotiPipalla Bazar, Dipayal, SilgadhiTel: +977-94-412277 Fax: +977-94-440486

JanakpurBhanu Chowk, JanakpurTel: +977- 41-530317/18/19

KirneSahare, Kirne, DolakhaTel: +977-048-410026

LahanMain Road, LahanTel: +977-33-562385/86 Fax: +977-33-562387

ManthaliManthali Bazaar, ManthaliTel: 048-540484 Fax: 048-540041

NarayanghatShaheed Chowk, Narayanghat, ChitwanTel: +977-56-571883/84 Fax: +977-56-571993

NepalgunjSurkhet Road, Nepalgunj, BankeTel: +977-81-527981 Fax: +977-81-527983

PokharaChipledhunga, Pokhara, KaskiTel: +977-61-541528 Fax: +977-61-541529

Extension Counters:Timure Extension CounterTimure, RasuwaTel: 01-6922836

Silgadhi Extension CounterSilasthan, Silgadhi, DotiPhone: 094-420488

Page 2: Annual Report.ai

FOR THE CHANGING TIMES 2-3

2013-14 HIGHLIGHTS 4-11

Performance Highlights 6

The Year in Review 8

Project Finance and Highlights of 2013-14 10

NMB BANK AT A GLANCE 12-19

About Us 14

Network 16

People our Strength 17

NMB Capital Limited 18

BOARD OF DIRECTORS & MANAGEMENT 20-39

Chairman's Statement 22

CEO's Statement 26

Director’s Report 28

Board of Directors 36

Executive Management Team 38

Risk Management 38

Operations 39

Compliance 39

BANKING PRODUCT & SERVICES 40-47

EMBRACING SOCIAL RESPONSIBILITY 48-51

Page 3: Annual Report.ai

NMB BANK ANNUAL REPORT - 2013/14 [03][02] NMB BANK ANNUAL REPORT - 2013/14

The Bank is committed to reinvent itself and to adapt to every internal and external change that evolves overtime. We emphasize on delighting customers through innovation in products/services and always rise above to meet the challenges faced by the customers over the changing times.

FOR THECHANGING TIMES

Page 4: Annual Report.ai

NMB BANK ANNUAL REPORT - 2013/14 [05][04] NMB BANK ANNUAL REPORT - 2013/14

2013-14HIGHLIGHTS1Our financial indicators this year are reflections of good performance in challenging economic conditions.

Page 5: Annual Report.ai

NMB BANK ANNUAL REPORT - 2013/14 [07][06] NMB BANK ANNUAL REPORT - 2013/14

10.11

DEPOSITS(NPR In Billion)

2013-14(2070/71)

2012-13(2069/70)

2011-12(2068/69)

2010-11(2067/68)

2009-10(2066/67)

+22%

12.87

15.98

22.19

27.09

1.84

NETWORTH(NPR In Billion)

2013-14(2070/71)

2012-13(2069/70)

2011-12(2068/69)

2010-11(2067/68)

2009-10(2066/67)

+16%

2.21

2.26

2.42

2.81

2.72

INVESTMENT(NPR In Billion)

2013-14(2070/71)

2012-13(2069/70)

2011-12(2068/69)

2010-11(2067/68)

2009-10(2066/67)

+87%

2.61

2.44

2.25

4.19

7.81

LOANS AND ADVANCES (NET)(NPR In Billion)

2013-14(2070/71)

2012-13(2069/70)

2011-12(2068/69)

2010-11(2067/68)

2009-10(2066/67)

+24%

11.21

12.07

16.49

20.47

281.82

OPERATING PROFIT(NPR In Million)

2013-14(2070/71)

2012-13(2069/70)

2011-12(2068/69)

2010-11(2067/68)

2009-10(2066/67)

+9%

361.57

339.48

610.13

665.39

159.87

NET PROFIT(NPR In Million)

2013-14(2070/71)

2012-13(2069/70)

2011-12(2068/69)

2010-11(2067/68)

2009-10(2066/67)

+14%

221.50

52.22

360.39

409.92

PERFORMANCE HIGHLIGHTS

Page 6: Annual Report.ai

NMB BANK ANNUAL REPORT - 2013/14 [09][08] NMB BANK ANNUAL REPORT - 2013/14

Q1

Q2

16 July 2013 - 17 October 2013 Q315 January 2014 - 13 April 2014

2nd NMB Bank Inter School Heritage Painting Competition 2013NMB Social Initiative under technical assistance from Srijana College of Fine Arts organized the 2nd NMB Bank Inter School Heritage Painting Competition 2013. The event comprised of three sections which included the Painting Competition followed by a four day exhibition of the painting at the Araniko Gallery. The winners were announced in a ceremony held at the Nepal Academy of Fine Arts (NAFA)

Branchless Banking – Cash Disbursement Services ProjectWith the expertise in branchless banking, Transaction Banking on behalf of NMB Bank has set yet another milestone of providing Cash Distribution Services to 1600 local beneficiaries of two VDC’s of Doti region under the Cash Disbursement Service Project of World Food Program (WFP).

Values Launch The Bank launched its Values amidst a grand staff event. Five values were unveiled during the event. The event continued in outside valley branches subsequent to central level event, where all staff full heartedly participated. All staff pledged to live the Bank’s Values at all times. It was one of the milestone events of the Bank.

NMB Bank signs MOU with Samriddha Pahad Project, an initiative of The Blue Berry Hill Charitable Trust, UKA Memorandum of Understanding(MOU) was signed between the Bank and Samriddha Pahad Project, an initiative of The Blue Berry Hill Charitable Trust, UK. The agreement focuses on exploring opportunities for increasing access to finance for rural youths, micro and small entrepreneurs (MSEs) in hills and mountain community to enhance their livelihood skills.

3rd NMB Bank Heritage Walk 2014The Bank in association with Kathmandu Metropolitan City Office organized the ‘3rd NMB Bank Heritage Walk 2014’ on the occasion of World Heritage Day. The Bank has committed to pledge its support for the preservation of rich heritage sites as part of its Corporate Social Responsibility since the past few years. First initiated on the occasion of its 16th Anniversary, the Bank has been organizing the Heritage Walk in association of the Kathmandu Metropolitan City Office since the past three years. The sole purpose of this event was to raise awareness about the importance of preservation of our heritage sites among the local communities.

NMB Bank signs MOU with Samriddha Pahad Project, an initiative of The Blue Berry Hill Charitable Trust, UKA Memorandum of Understanding has been signed between the Bank and Samriddha Pahad Project, an initiative of The Blue Berry Hill Charitable Trust, UK. The agreement focuses on exploring opportunities in increasing access to finance for rural youths, micro and small entrepreneurs (MSEs) who aim to promote access to financial services in hills and mountains community to build their capacity, financial literacy and enhance their livelihood skills. The step comes as part of the Bank’s focus on Rural Banking, to serve the unbanked population of the country.

Bank’s new Brand Positioning In view of the Bank’s 2020 Vision to position NMB Bank brand amongst the Top Quartile Banks of the country, the new Brand Positioning of the Bank was launched.

“For the changing times”

The statement brings into perspective the Bank’s commitment to reinvent itself and adapt to every internal and external change that evolves over time. Emphasizing on delighting customers through innovation in products and services, to meet challenges created by transformation in customer lifestyle, financial and economic inconsistencies and global factors that influence business with the changing times.

NMB Bank - 18th Annual General Meeting The 18th Annual General Meeting, Chaired by Nanda Kishor Raathi, Chairman of NMB Bank, was successfully convened on Thursday, 19 December 2013 at Nepal Administrative Staff College, Jawalakhel, Lalitpur.

18 October 2013 - 14 January 2014 Q414 April 2014 - 16 July 2014

FINANCIAL HIGHLIGHTSDeposits : 20.20 B

Loans and Advances : 16.19 B

Net Profit : 90.81 M

FINANCIAL HIGHLIGHTSDeposits : 23.19 B

Loans and Advances : 17.41 B

Net Profit : 197.76 M

FINANCIAL HIGHLIGHTSDeposits : 25.26 B

Loans and Advances : 19.60 B

Net Profit : 300.65 M

FINANCIAL HIGHLIGHTSDeposits : 27.09 B

Loans and Advances : 20.47 B

Net Profit : 409.92 M

THE YEAR IN REVIEW

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NMB BANK ANNUAL REPORT - 2013/14 [11][10] NMB BANK ANNUAL REPORT - 2013/14

NMB Bank has over 10 years of experience in advising and arranging financing for major projects like Hydropower, Hospitals, Manufacturing Industries, Real Estate Sector and Hotels throughout the country. The bank is known for its outstanding track records and long-standing commitment to finance various projects in Nepal. Our team draws on the expertise of product and sector specialists including the full capability of NMB Bank where necessary, to ensure our financial consulting and solutions are fit for the purpose and appropriate to cater the client’s need. The Project Finance team has institutionalized capabilities to successfully manage the unique and multi-dimensional process of project finance transactions led by customized project structuring approach.

NMB Bank is providing optimum solutions to its clients with an appropriate decision support for strategic measures in future. NMB Bank has been providing its expertise services to the clients during each stage of project development, including financial advisory, structuring and arranging, coordination and syndication, and post-financial closure.

With the experienced team in Commercial Banking, we are well-equipped to lead the large size projects under consortium\syndication arrangements. During the FY 2070/71 the bank is able to close the syndication deal of around 3 projects under its lead and have financed more than 2 projects as a participating banks and sole financer.

PROJECT FINANCE AND HIGHLIGHTS OF 2013-14

Page 8: Annual Report.ai

NMB BANK ANNUAL REPORT - 2013/14 [13][12] NMB BANK ANNUAL REPORT - 2013/14

NMB BANKat a Glance2

We have firmly established ourselves as one of the leading financial institutions of the country.

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21%

39%

9%

31%

Individual Promoters

Institutional Promoters

Individual Public

Institutional Public

Six years since commencing business as a full fledged A Class Commercial Bank in 2008, NMB Bank Limited has been able to firmly establish itself as a leading financial institution in the country. The Bank strives to introduce innovative products and services tailor made to meet the needs of every customer segment. Aligned with the tagline “For the changing times” the Bank’s synergistic balance of maintaining effective customer relationship, high corporate governance, commitment to provide good return to all stake holders and empathy for social causes through CSR guides its vision towards establishing ourselves as the leading commercial bank in the country.

ABOUT US

Shareholders & PromotersNMB Bank is a Public Limited company with NPR 2 billion in Paid-up capital, promoted by members of prominent business houses, successful businessmen, leading financial institution of the country - Employees Provident Fund and a foreign company Yong Lian Reality from Malaysia.

VisionTo establish ourselves as a leader in banking by providing a range of financial services suitable to the needs to the market with high priority on customer care while simultaneously embracing the interests of all stakeholders and value of a good corporate citizen.

MissionTo gain supremacy in growth, profit, customer care and social response in banking by way of:

• Leveraging and integrating the existing strengths of the institution

• Reaching out and serving wide range of customers within and outside the country

• Developing a culture of 'Giving Extra Care to the Customers'

• Being innovative in designing and delivering services

• Adopting prudent investment practices for building up a sound assets base

• Developing internal and external efficiencies by prudent use of technology

• Building operational efficiency through smarter processes and controls

• Providing exciting and challenging career prospects for the employees

• Placing high priority on stakeholders' interest and statutory compliance

• Acting responsibly for making contributions to the society at large

Be innovative with the changing time

Be prudent for sustainable and consistent growth

Be committed to deliver what we promise

Be a team player and deliver result together

Be responsible to our actions

Page 10: Annual Report.ai

NMB BANK ANNUAL REPORT - 2013/14 [17][16] NMB BANK ANNUAL REPORT - 2013/14

NETWORK PEOPLE OUR STRENGTH

Kathmandu Valley

Babarmahal

Bhaktapur

Chabahil

Kalanki

Kantipath

Kumaripati

Lubhu

Maharajgunj

Newroad

Putalisadak

Thaiba

Thamel

Birtamod

Banepa

Dhunche

Birgunj

Dailekh

Dhangadhi

Butwal

Biratnagar

Dharan

Doti

Janakpur

Kirne

Lahan

Manthali

Narayanghat

Nepalgunj

Pokhara

Extension Counters:Kathmandu District Court, Babarmahal • Kathmandu District Administrative Office, Babarmahal, Kathmandu • Timure Extension Counter, Rasuwa • Silgadhi Extension Counter, Doti

ATMs:Babarmahal, Kathmandu • Kumaripati, Lalitpur • Boudha, Kathmandu • Tripureshwor, Kathmandu • Sundhara, Kathmandu • Thamel, Kathmandu • Putalisadak, Kathmandu • Chipledhunga, Pokhara • Dharan, Sunsari • Lubhoo, Lalitpur • New Baneshwor, Kathmandu • Kalanki, Kathmandu • Nepalgunj, Banke • Birgunj, Parsa • Butwal, Rupandehi • Maharajgunj, Kathmandu • Doti, Silgadi • Manthali, Ramechhap • Biratnagar, Morang • Mangal Bazaar, Lalitpur • Narayan Bazaar, Dailekh • Dhangadhi, Kailali • Banepa, Kavrepalanchok • Kamalpokhari, Kathmandu • Kantipath, Kathmandu • Surya Binayak, Bhaktapur • District Court Premises, Kathmandu • Birtamod, Jhapa • Narayanghat, Chitwan • New Road, Kathmandu • Janakpur, Dhanusa, Durbarmarg, Kathmandu • Lahan, Siraha

Being a service industry, managing people is a major challenge of the bank and management of people determines the success of bank. NMB Bank Limited too has been moving ahead with its 300+ staff considering them as valuable assets rather than cost.

The role of HR Department at NMB starts from managing, recruiting and hiring of employees, coordinating the employee benefits and suggesting employee training and development strategies. Being HR professionals, the HR team perform the role of consultants and is always at the services of all staff to lend them suggestion/advice/career counseling to achieve staff's personal goal along with the Bank's goal. In this competitive era, HR team keeps itself updated in various policies/laws such as Labour Laws, automated HR system related issues and so on. Further HR Team also ensures HR policy and practice are in line with general banking industry practices.

Employees at NMB are given full opportunity for their career development as the bank invests considerable amount on the training of staff each year. The bank conducts various in-house/out-house trainings/workshops for staffs' career development. Almost 80+s training programs, both in-house and out-house were provided to staff in the FY 2070/71. New joiners are given proper induction session wherein they are briefed on the working of various departments within the Bank. Newly recruited staff are also kept on orientation program to familiarize them of the process of all departments and as per their orientation they are placed in a unit thereby providing right job to right person.

For staff's motivation and to ensure their career development, Annual Performance Review is carried out of each staff annually. Feedback on their performance is not limited to Annual Performance Review but is provided regularly to help staff move in right direction. Promotions are based on strict merit basis. HR is focused on capacity building without undermining cost factor at the same time maintaining qualitative resources.

NMB Bank firmly believes in engaging staff in extra curricular activities besides daily work. HR actively organizes sports/picnic/intra-department/branch competitions to keep staff energized all the time. Staff appreciate such gestures and participate whole heartedly.

Page 11: Annual Report.ai

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NMB CAPITAL LIMITED

Financial PerformanceFor the review year 2070/71 net profit of the company has an astounding growth of 392.52%, contributing to EPS of 23%. The growth has come from all the areas of operation, especially issue management and funds management. Amidst high increase in overall costs of doing business, there has been a moderate increase in the overall costs of the company which has increased by only 15%. The company has distributed 8% cash dividend to its shareholders in the last fiscal year, retaining the rest for growth programs.

Growing with the market momentumIn the review year 2070/71, NMBCL received an approval from Securities Board of Nepal (SEBON) to act as ‘Fund Manager’ and ‘Depository’ for NMB Sulav Investment Fund – I. ICRA Nepal has assigned “[ICRANP] AMC Quality 3 (AMC3)” fund management quality rating to NMBCL, indicating adequate assurance on management quality.

NMBCL launched its first mutual fund scheme on the first quarter of the year, a growth fund of NPR 600M was offered to public as NMB Sulav Investment Fund – I. The scheme received overwhelming response from the institutional investors and public at large with more than 3 times oversubscription. Due to the oversubscription, the total corpus was increased to NPR 750M (increase of 25% of the initial corpus as per securities regulations). The units of the scheme have already been listed for trading on Nepal Stock Exchange under scrip name NMBSF1. The Net Asset Value of scheme is gradually gaining the momentum and is hovering around NPR 9.85, however its trade at a range of around NPR 10.50 to NPR 11.

NMBCL is also a Depository Participant for Central Depository System and Clearing Limited (CDSCL) for automating of shares trading, database management and other associated activities for shares traded on the Nepal Stock Exchange. The new role has been in full operation and accounts are being opened.

NMBCL shall also focus on customized Portfolio Management Services to cater the area of wealth management. Research based programs, advisory services and services relating to Fund Arranger shall be an area to specialize going forward. To address the long term investment opportunities and its management, it shall look for local and international firms to partner for building the strengths for the capital market of the country.

The capital market of the country has been on a shallow pace so far. The challenges are to make it vibrant with new products in offer by convincing the regulators on its sanity and prudence. As a growth plan, NMBCL shall process for registering few more mutual fund scheme to address the market demand and provide access to small investors to the capital market. The dedication and integrity of NMBCL for the betterment of the financial industry shall remain unchanged.

NMB Capital Limited (NMBCL) commenced its operations as a fully owned subsidiary of NMB Bank from 2010. Its businesses encompass wide range of merchant/investment banking services - Management of Initial Public Offers (IPO)/Further Public Offers/Right Issuance, Underwriting, Trusteeship, Registrar to Securities (RTS), Depository Participant (DP), Advisory Services, Valuation, Fund Manager & Depository etc.

The Directors of the Company are eminent personalities from reputed business houses and experienced commercial bankers. The Bank has a practice to appoint CEO on a secondment basis. The team is lead by an experienced banker having knowledge on investment banking and general management. It has a strong team of qualified personnel with expertise in various fields of merchant banking and general banking affairs. NMBCL has created prominent space in the investment banking industry of Nepal and is gradually growing with new products in offer.

The major activities performed by the Company during F.Y. 2070/71 are as under:

S.N. Details Amount (NPR in millions)

1. Fund Manager for Mutual Fund (NMB Sulav Investment Fund- I) 750.00

2. Management of Initial Public Offers: 300.29

A ‘A’ Class Financial Institutions – Debenture Issuance 200.00

B ‘B’ Class Financial Institutions 80.00

C ‘D’ Class Financial Institutions 30.29

3. Management of Rights Sahre Issuance: 1,376.97

A Insurance Companies 700.12

B Hydro Power Company 676.85

4 Management of Unsubscribed Right Issuance: 28.82

A Insurance Companies 27.13

B Hydro Power Company 1.69

5 Acted as a collection centers for IPO/Right Issuance 1,252.60

A ‘A’ Class Financial Institutions 920.00

B ‘B’ Class Financial Institutions 32.90

C Insurance Company 88.70

D Hydro Power Company 211.00

6 Number of RTS Client (in numbers) 18

7 Depository for NMB Sulav Investment Fund – I

8 Depository Participant

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BOARD OF DIRECTORS

& MANAGEMENT

The Board establishes strategy for the Bank which is reviewed periodically to address changes. It provides adequate supervisory oversight on management's strategy.

3

Page 13: Annual Report.ai

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On behalf of the Board of Directors of NMB Bank Ltd, I am delighted to welcome you all in the 19th Annual General Meeting of the Bank. During FY 2013/14, your Bank further strengthened its financial position in the Nepalese banking space supported by its cautiously optimistic strategy and good quality of assets.

The Banking Industry in Nepal continued to grow in FY 2013/14 albeit at a slower pace. The overall business environment during the period remained relatively more conducive owing to recent positive political developments. Excessive liquidity resulting squeeze in interest spread, higher loan loss provision against non performing loans and increasing operating cost due to inflationary pressure are key attributing factors for modest growth in profitability of the banking Industry in Nepal during the period.

Local market has witnessed significant increase in liquidity position on the back of strong remittance inflow into the country. The banking industry in Nepal currently faces significant challenge in terms of deploying excess funds as there are limited avenues available for investment within the country. Consequently, costs associated with maintaining liquidity have had significant impact on the profitability of commercial banks.

Amidst theses challenges, I am very pleased to share with you that the Year 2013/14 was yet another successful year for your Bank. The Bank delivered a good financial result during the period despite challenging markets. The Bank continued to invest in its business by expanding its branch network, 8 new branches were opened during the period. Currently, there are 29 branches of the bank across the country with 33 ATMs.

A key highlights of financial performance for the year is as under:

• Overall Deposit volume increased by 22% to NPR 27.08 billion compared to NPR 22.18 billion in the previous year.

• Loans and Advances volume also increased by 24% to NPR 20.4 billion

• Net profit after tax recorded at NPR 409.9 million an increase by 13 % compared with the last year.

• Earning per share increased to NPR 20.50 from NPR 18.02.

• Non Performing Assets significantly improved to 0.55% from 1.80% in the preceding year.

• In accordance with the regulatory requirement of Nepal Rastra Bank 20% of total net profit amounting to NPR 81.98 million has been transferred to General Reserves Fund.

• The bank’s overall capital base remains strong with Capital Adequacy Ratio of 10.75%.

• Cost to Income ratio maintained at 37.58%.

As a part of our commitment to deliver sustainable and attractive returns to our valued shareholders, I am very much pleased to inform all of you that this year we are proposing 21.5% dividend of which 20% as Bonus Share and remaining 1.5% cash dividend from accumulated profit and reserves which has already been approved by Nepal Rastra Bank.

The Bank delivered a good financial result during the period despite challenging markets.

Pawan Kumar Golyan

Chairman

CHAIRMAN'S STATEMENT

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NMB BANK ANNUAL REPORT - 2013/14 [25][24] NMB BANK ANNUAL REPORT - 2013/14

Macro Economic Environment & OutlookIn spite of a worsening Geo Political Risks, developed economies are experiencing modest growth, and growth in developing economies is gradually stabilizing. As per the recent IMF Report, the growth forecast for global economy for year 2014 and 2015 are 3.3% and 3.8% respectively.

The GDP growth for Nepal recorded at 5.25% during FY 2013/14 as against 3.6% in the preceding year. The growth is attributed to increase in overall agriculture input owing to favorable weather conditions, expansion in service sector due to more rapid growth in remittance inflow and improvement in tourist inflow. We expect economic growth in the country to further accelerate during FY 2014/15 on the back of political stability & likely stepping up of likely economic reforms assuming continued strong remittance inflow, gradual revival in real estate & housing sector, better growth outlook in India, & improvement in international economy though at modest pace.

We believe that the recent Power Trade Agreement signed with India is the major breakthrough achieved in trade history between Nepal & India which has paved the way for smooth bilateral power trade between Nepal & India and also opened the door for foreign investors to invest in hydropower projects in Nepal. With this land mark deal & subsequent Power Development Agreement in one of major Hydropower Development Project, the overall confidence of other foreign investors is also expected to boost up in days to come which will definitely help Nepal to achieve most needed consistent higher economic growth in the coming years.

The way forwardWith overall economic growth expected to pick up, we are confident of better business prospects and more conducive business environment in the country creating numerous opportunities for banking industry in Nepal. We remain very positive about the opportunities to grow the business and are well positioned to seize opportunities in the changed economic environment.

As you are aware, we have recently signed Memorandum of Understanding for merger with Bhrikuti Development Bank and Pathivara Development Bank, two leading regional development banks with strong presence in western & eastern Nepal, in line with our strategy for improving profitability, market share and capital base. I am very much confident that the merger initiative will provide an impetus for overall growth of the Bank and your Bank will be in a position to take a major stride to become one of the leading banks in Nepal.

Your Bank will continue to invest in strengthening infrastructure, upgrading technology platform and human resources to further build capacity to create / enhance our product capabilities, alternate delivery channels with primary focus to strengthen our position in Retail & SME space. At the same time, our focus will also be in maintaining Assets Quality and improving profitability to ensure to create significant value for our shareholders. As we move forward, we will continue to dedicate ourselves to the interests of all of our stakeholders at all times.

AcknowledgementI on behalf of the Board of Directors would like to thank all our respected shareholders for your continued support and guidance.

I would like to take this opportunity to welcome our new Board Directors Mr. Harish Chandra Subedi, Kamlesh Agrawal & Lt. General ( Retd.) Nepal Bhusan Chand representing general public shareholders. Further, I on behalf of the Board of Directors would like to thank our Past Chairman Mr. Nanda Kumar Rathi for his valuable contribution during his tenure as the Chairman of the Board from the period of 1st Oct 2013 to 6th June 2014. I would also like to thank all my fellow directors for their valuable contribution to the Bank.

We express our sincere gratitude to all our regulators, the Government of Nepal, Ministry of Finance, Nepal Rastra Bank, Securities Board of Nepal, Nepal Stock Exchange for their guidance and patronage. We reiterate our commitment to ensure high level of corporate governance within the Bank. We are also very grateful to Media, journalists, product partners and all our well wishers for their support through out.

I am also pleased to record my appreciation to the management team and all staff for their significant contribution to our success over the past year.

Finally, I take this opportunity to express my sincere gratitude to all our valued customers for their continued support and patronage which has been the key to our success. NMB Bank is committed to maintaining the highest standards of service excellence based on sustainable growth and development. We look forward to your continued support in our challenging journey ahead.

Thank you.

COST TO INCOME RATIO

+10%

FY 2009-10(FY 2066/67)

FY 2010-11(FY 2067/68)

FY 2011-12(FY 2068/69)

FY 2012-13(FY 2069/70)

FY 2013-14(FY 2070/71)

34.18% 37.58%36.83% 36.96% 42.61%

FY 2009-10(FY 2066/67)

FY 2010-11(FY 2067/68)

FY 2011-12(FY 2068/69)

FY 2012-13(FY 2069/70)

FY 2013-14(FY 2070/71)

NON PERFORMING LOAN (%)

-70%

1.80% 0.55%0.70%

0.27%

2.45%

FY 2009-10(FY 2066/67)

FY 2010-11(FY 2067/68)

FY 2011-12(FY 2068/69)

FY 2012-13(FY 2069/70)

FY 2013-14(FY 2070/71)

EARNING PER SHARE(NPR)

+14%

18.02 20.510.65 11.08

2.61

FY 2009-10(FY 2066/67)

FY 2010-11(FY 2067/68)

FY 2011-12(FY 2068/69)

FY 2012-13(FY 2069/70)

FY 2013-14(FY 2070/71)

CAPITAL AND RESERVE(NPR. in Billion)

+16%

2.42 2.811.81 2.21 2.26

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In line with NMB Vision 2020, the Bank aims to become one of the leading institutions by 2020 to remain within the first quartile amongst the commercial Banks in the country.

Upendra Poudyal

Chief Executive Officer

CEO'S STATEMENT Despite a significant margin pressures as evidenced by Net Interest Income growth of only around 5% as against the Risk Assets volume increase by 23% and operating cost growth being significantly higher than the operating income growth, the Bank’s Net Income increased by 14% due chiefly to growth in non-fund based business on account of loan syndication, transaction banking and international guarantees; and Foreign Exchange income. The Bank’s subsidiary unit, NMB Capital also recorded an impressive performance with 5.5% contribution to the Group Profit as against a meager 1.67% last year. The Bank’s NPA level also improved impressively to 0.55% one of the lowest in the industry.

The Bank’s key achievements during the period include successful project finance and guarantee syndications, significant growth in trade finance business, enhancement in point of representations through branches and alternate delivery channels and successful launching of new Brand Positioning and Values. Further, the Bank’s subsidiary unit, NMB Capital successfully launched the mutual fund sponsored by the Bank which was a grand success.

Key priorities of the Bank shall be:

• Increase retail deposit through product innovation, alternate delivery channel and focus on remittance. The Bank aims to enhance tie-ups with remittance companies and open Representative Office in Malaysia

• Enhance share of SME businesses. A separate business segment has been created to improve business volume on SME and Micro Finance. This is expected to improve the Bank’s yield on assets and reduce reliance on Corporate Banking for the Bank’s business growth. The Bank will also accord priorities on strategic partnerships with multilateral/bi-lateral agencies.

• Strengthen Project Financing division in order to improve fee income and secure higher yield assets chiefly by through loan syndications in Hydro power, tourism and infrastructure projects.

• Strengthen International Trade Finance to enhance volume of LC and guarantees. The Bank succeeded in arranging strategic partnership with the International Finance Corporation (IFC) under the Global Trade Finance Program to support international trade transactions of the Bank.

• Alternative option to deploy surplus fund through strategic placement and other alternative instrument in the offshore market.

• Enhance visibility and image of the Bank through effective use of Media and continuous branding and CSR activities.

• Mergers and Acquisitions.

• Issuance of Debenture to take care of the Bank’s future business growth

• Continue to invest in technology, products and process improvements to serve our customers’ current and future needs.

In line with NMB Vision 2020, the Bank aims to become one of the leading institutions by 2020 to remain within the first quartile amongst the commercial Banks in the country. For this to happen, we need to make a quantum leap in the next few years for which the Bank need to invest substantially in

strengthening its infrastructure, up-gradation of technology platform, and alternate delivery channels, and develop human resources in order to support the growth envisaged and post merger integration.

In line with its strategy to grow also through alternate means the Bank has initiated process to merge three development banks and a finance company including two regional level developments – one in the east and another western part of the country which will ensure diversified representation of the Bank throughout the country and improve upon brand image. The Merger is expectyed help the Bank to further build our capacity to create and enhance our product capabilities with primary focus to strengthen our position in Retail and SME.

Risk/compliance culture has always been in the centre stage of the Bank management. We believe in striking balance between the sales driven front office culture and risk/compliance focused culture.

The Bank has defined and embraced its core values supported by a code of conduct for all staff that promotes ethical and responsible behaviour. The staff of the Bank are to live with the values we have embraced for ourselves. The Bank will continue Various initiatives focused on reinforcement of the Values embraced by the Bank.

NMB continued with its major CSR initiatives directed towards the country’s heritage conservation and sports development, support to the deprived section of the society and financial literacy including through support from Swiss Development Cooperation,

The Bank has launched its New Brand Positioning with Tagline – For the Changing Times. The Bank is always ready and motivated to seize the opportunities due to change in environment and policies. The Bank is also ready to respond to the changes.

We believe that the strategies the Bank has adopted will continue to safeguard the growth potential of the Bank to become a major force in the financial sector of the country. NMB is on its way to becoming the best Bank in the Country.

We are thankful to our valued customers for their continued trust and patronage. We are ever grateful to the Nepal Government, Ministry of Finance and our regulators including Nepal Rastra Bank, Securities Board, Nepal stock Exchange for their guidance and support during the period.

I am ever thankful to the NMB Board of Directors and Committees for continued high level guidance and support in all respect.

The Bank takes pride on its customer focused team with an excellent attitude and approach to deliver results together. Our staff have exhibited high level of attitude and continue to contribute positively to the organization. I am thankful to the Team NMB who contributed towards the superior performance of the Bank and have demonstrated the drive and commitment in such a challenging time. I am appreciative of their spirit, and dedication to service excellence and customer care. Our team of committed staff is our great asset because they are our competitive advantage and therefore make a difference.

Thank you.

FY 2013/14 has been extremely challenging for the country and the Banking industry as uncertainties prevailed in the global economy, region as well as our own country Nepal. Continued deficit in development expenditure has had negative impact on the economic activities in the country including performance of the Banking sector. The banking industry continued to face prolonged excessive liquidity, slowdown in demand for loans, lack of adequate instruments to deploy the liquid funds and a highly competitive environment driven by general overcapacity in the sector resulting in squeeze in interest spread and increase in costs.

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At NMB Bank, a robust Risk Management Framework is in place. A key benefit of the framework is that it brings together information on governance policies, accountabilities and roles and responsibilities for all those involved in risk management.

DIRECTOR’S REPORT

World Economic OutlookDeveloped economies including the United States, Euro Area and Japan are expected to improve in 2014/2015 with the end of the prevalence of unfavorable effect of the financial crisis for a long time. However, risk of recession still prevails in Euro Area due to low inflation. World trade volume and economic activities of emerging and developing economies have been expanding along with the improvement in the economy of the advanced countries. Although improvement in the external demand of the advanced countries has created positive impact on the emerging and developing countries, the 'tapering off' policy adopted by Federal Reserve Bank by reducing the quantity of the asset purchases may raise the interest rate in the international financial market, which may cause the outflow of capital from the emerging economies resulting in depreciation of their currencies. According to the World Economic Outlook published by the International Monetary Fund (IMF) in April 2014, world's economic growth is projected to be 3.6 percent in 2014 and 3.9 percent in 2015. The US economy and Euro Area are estimated to grow by 2.8 percent and 1.2 percent respectively. Similarly, emerging and developing economies is projected to grow by 4.9 percent. Economic growth rate of the neighboring countries, India and China remained at 4.4 percent and 7.7 percent in 2013 and is expected to grow by 5.4 percent and 7.5 percent respectively in 2014. Although the developed economies are gradually recovering from the impact of economic recession, there will be less pressure on inflation due to weak aggregate domestic demand in such economies. Especially, it is expected to have contractionary impact on global inflation as a result of the less than expected inflation in Euro Area. According to the IMF, inflation of the advanced economies was recorded at 1.4 percent in 2013 and is expected to remain at 1.5 percent in 2014. Similarly, inflation in emerging and developing economies was 5.8 percent in 2013 and is expected to remain at 5.5 percent in 2014. According to the IMF, inflation in China was 2.6 percent in 2013 and is forecasted to be 3.0 percent 2014. On the other hand, inflation in India remained at 9.5 percent in 2013 and is forecasted to be at 8.0 percent in 2014. Reserve Bank of India has the target of bringing down inflation to 8 percent by January 2015 and 6.0 percent within one year thereafter. However, because of still higher food prices, hike in railway fare, less than expected monsoon rain due to impact of El Nino in India and the possibility of increase in prices of petroleum products because of widespread internal conflict in Iraq, it is challenging to contain inflation at a forecasted level. There is a risk of inflation pass-through of rise in prices in India via imports to Nepalese consumers. (excerpt Monetary Policy 2014)

Domestic Economic OutlookAs a result of increase in agricultural production due to favorable monsoon and improvement in non-agriculture sector on account of improving labor relation and security situation, Gross Domestic Product (GDP) has increased at a higher rate in

2013/14 compared to the previous years. According to the preliminary estimates of Central Bureau of Statistics (CBS), the real GDP grew by 5.2 percent at basic price and 5.5 percent at producers’ price in the review year. Such growth rates were 3.5 percent and 3.9 percent respectively in the previous year. In the review year, the growth rates of agriculture and non-agriculture sector are estimated to be 4.7 percent and 5.3 percent, respectively. Such growth rates were 1.1 percent and 4.6 percent respectively in the previous year. In the review year, under the nonagriculture sector, industry and service sub-sectors are estimated to grow by 2.7 percent and 6.1 percent respectively. In the previous year, the growth rates of industry and service sub-sectors were 2.5 percent and 5.2 percent respectively.

During the eleven months of 2013/14, the annual average inflation based on the consumer price index (CPI) stood at 9.1 percent compared to 9.9 percent in the previous year. The y-o-y inflation as measured by the CPI increased by 9.5 percent in mid-June 2014 as compared to 8.2 percent in the corresponding month of the previous year. The indices of food and beverage group and non-food and services group increased by 12.2 percent and 7.0 percent respectively during the review period. Such indices had increased by 7.7 percent and 8.6 percent respectively in the corresponding period of the previous year. Pressure on inflation emerged as a result of a number of factors such as upsurge in price of food items, vegetables and fruits, fish, meat and egg, and dairy products, weak supply situation, energy crisis, depreciation of Nepalese currency against convertible foreign currencies, increase in price of petroleum products and Indian inflation. Moreover, the low growth rate of production but higher annual average growth rate of per capita disposable income by 14.9 percent over the last three years has also exerted pressure on domestic inflation. On the cash flow basis, the total government expenditure increased by 9.6 percent amounting to Rs. 370.78 billion as of 11 June 2014. It had increased by 5.8 percent in the previous year.

FOREIGN EXCHANGE INCOME(NPR. in Million)

+51%

FY 2009-10(FY 2066/67)

FY 2010-11(FY 2067/68)

FY 2011-12(FY 2068/69)

FY 2012-13(FY 2069/70)

FY 2013-14(FY 2070/71)

64.54 97.6623.01 47.19 49.77

FY 2009-10(FY 2066/67)

FY 2010-11(FY 2067/68)

FY 2011-12(FY 2068/69)

FY 2012-13(FY 2069/70)

FY 2013-14(FY 2070/71)

FEES AND COMMISSION(NPR. in Million)

+64%

109.08 179.02116.48 87.45 92.21

FY 2009-10(FY 2066/67)

FY 2010-11(FY 2067/68)

FY 2011-12(FY 2068/69)

FY 2012-13(FY 2069/70)

FY 2013-14(FY 2070/71)

NET INTEREST INCOME(NPR. in Million)

+5%

753.32 789.28306.64 438.93 449.58

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The Bank closed the fiscal year with 13.74% increase on net profit against previous year at NPR409,922,982/-. The remarkable feat was possible due to number of factors. A total deposit base grew significantly by 22% at NPR27B. Institution deposit although constitutes a larger part of deposit, the Management is consciously working towards reducing its share to achieve more balanced deposit mix. Remarkable growth in deposit allowed the bank in taking significant stride in total Loans & Advances to grow by 24.11% against previous year at NPR 20.47B. The Bank in the review period made a considerable inroad in Small & Medium Enterprises. The Bank also has a good loan exposure in local corporate wherein the Bank played a lead bank for issuance of a consortium guarantee of considerable amount , first of its kind in the history of Nepal banking. Under Real Estate loan, the Bank is compliant to NRB Directive by keeping its exposure only at NPR 36M. The Bank continued to invest in Retail loans esp. home and auto loans where it grew by 20 % at NPR 1.12B. The investment portfolio increased by 86% mainly due to investment in off shore portfolios with higher returns. Volume of non-funded products like Letter of Credit and Bank Guarantees also increased by 68% on year-on-year comparison.

The Bank's main source of revenue during the review year remained 'Fees and Commission' with increase of 64% revenue against previous year , likewise the foreign exchange gain also increased by 51% contributing to a significant growth in Total Operating Income at NPR1.065B however, growth under Net Interest Income was nominal with NPR789M. Along with the expansion of the business base of the Bank, total operating expense also increased by 32% with 17% increase in Staff expense alone. Contributing factor for increase in operating expense is mainly expansion of Branches during the year.

NPR113M is provisioned under possible loss which is in fact a drop by 13% against previous year. The Bank has always followed prudent banking, 0.55% under Non Performing Asset is a proof of that practice. The CD ratio has been maintained within NRB prescribed norm at 75.05%. Capital Adequacy Ratio of the Bank is maintained which is an indication of enough capital for further business expansion. The paid up capital of the Bank is already upto the prescribed limit by NRB at NPR2B.

Network ExpansionThe year saw opening of 8 new branches in diverse locations as Dhunchhe, Narayanghat, Bhaktapur, Kalanki, Birtamod, Maharajgunj, Jankpur and Lahan. With addition of these branches the Bank now have 29 branches in total spread wide across the country. Dhunchhe is a rural branch, just a 4th

commercial bank in the vicinity much to the delight of the local residents. The local residents of Dhunchhe have welcomed the Bank with their trust and hard earned saving hence within a span of 1 year the deposits collection is quite significant.

Durbarmarg branch was relocated to Putalisadak with view of providing convenient location to our valued customers. Likewise Newroad branch too was relocated to a convenient location in NewRoad itself , with relocation of branches, footfalls have increased considerably as anticipated.

The Bank continues in its strategy to add more new branches , providing banking privilege to customers at rural area as well in urban area with same élan.

During the fiscal year the Bank successfully added 9 ATMs spreading our reach in more diverse geography. With our customers convenience in mind, the Bank will continue to add more ATMs. The Bank currently has 33 ATMs.

With an objective of providing banking services to rural population where roads are still a distant dream, the Bank has continued its branchless banking services in few remote areas. The local community have appreciated the effort as their hard earned saving is now secure with the Bank. The Bank is also actively involved in micro-finance lending in rural area providing loans at reasonable interest rate thus bringing them into main banking stream.

The Bank is actively involved in sourcing Remittance business in Dubai and South Korea. The Bank has made several tie ups with the foreign agencies for convenient remittance back home. With such procedure in place, Nepali diasporas have benefitted. The Bank intends to make entry into many such destinations, imminent destination being Malaysia.

Resource mobilization of the government has increased by 19.5 percent to Rs. 393.68 billion in the review period compared to an increase of 10.8 percent in the previous year. Out of total resources, revenue collection has increased by 14.0 percent to Rs. 337.52 billion. As a result of low government expenditure relative to resource mobilization, the government maintained the cash balance of Rs. 49.93 billion at the NRB as of 11 June 2014.

The overall BOP recorded a surplus of Rs. 109.56 billion during the eleven months of 2013/14 compared to a surplus of Rs. 52.69 billion during the same period of the previous year. Although there was a huge trade deficit, the current account recorded a surplus of Rs. 77.84 billion in the review period as a result of significant surplus in service and transfer accounts. Under the current account, the net service income witnessed a surplus of Rs. 19.73 billion and remittance inflows rose by 26.4 percent to Rs. 490.95 billion. In US dollar terms, remittance inflows increased by 12.2 percent to US$ 4.99 billion In the review period, total exports increased by 16.9 percent and total imports increased by 27.0 percent. Exports to India increased by 17.5 percent and that to other countries increased by 15.7 percent. On the other hand, imports from India and other countries increased by 28.6 percent and 23.8 percent respectively. Because of higher growth rate and broader base of imports relative to exports,

trade deficit reached Rs. 563.97 billion during the eleven months of 2013/14. As such, the export-import ratio declined to 12.7 percent in the review period from 13.7 percent in the corresponding period of the previous year. The gross foreign exchange reserves increased by 21.4 percent to Rs. 647.64 billion in mid-June 2014 from Rs. 533.30 billion in mid-July 2013. In the US dollar terms, foreign exchange reserves increased by 21.0 percent to USD 6.79 billion in mid-June 2014 from USD 5.61 billion in mid-July 2013. Based on the trend of imports during the eleven months of 2013/14, the current level of foreign exchange reserve is sufficient to cover 2 months of merchandise imports and about 9.8 months of merchandise and service imports. Nepalese currency which had been weak compared to the US dollar and other convertible currencies in early months of 2013/14 due to its peg with Indian rupee remained fairly stable during the later months of the fiscal year. Nepalese currency vis-à-vis US dollar depreciated by 0.9 percent in mid-July 2014 from the level of mid-July 2013. It had depreciated by 6.7 percent in the corresponding period of the previous year. The exchange rate of one US dollar stood at Rs. 95.90 in mid-July 2014 compared to Rs. 95.00 in mid-July 2013. (excerpt Monetary Policy 2014)

Director’s Report: The Board of Directors of NMB Bank Ltd is pleased to present the Balance sheet, Profit and Loss Account, Cash Flow statement for the fiscal year 2013/14. The financial performance of NMB Bank Ltd. for the fiscal year 2013/14 along with the bank's key achievements, business environment, challenges and future plans are also included in this report.

This report is in conformity with provisions of the Company Act 2063, Banks & Financial Institutions Act 2063 including the directives issued by Nepal Rastra Bank.

NPR (In Millions) 16-Jul-14 16-Jul-13 % change

Total Deposits 27,087,258 22,185,527 22.09%

Total Loan and Advances 20,467,041 16,491,044 24.11%

Total Investments 4,191,269 2,245,514 86.65%

Fees, Commission & Discount 179,018 109,082 64.11

Foreign Exchange Gain/Loss (Net) 97,660 64,539 51.32

Total Operating Income 1,065,960 926,939 15%

Total Operating Expenses 251,377 189,457 32.68

Operating Profit before provision 665,387 610,127 9.06%

Net Profit 409,923 360,394 13.74%

Paid Up Capital 2,000,000 2,000,000

Capital Adequacy Ratio (%) 10.75 11.74 (8.43)

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Future ProspectsExpanding our footprints in both urban and rural area remains the mission of the Bank. Through our footprints we will continue to provide SME, Micro-Finance, Retail loans to the customers. The Bank recently launched 'Financial Services Advisors' concept in its 3 branches mainly Babarmahal, New Road and Kantipath whereby each customer gets personalised services the minute they walk into the Bank. Each customer will have a dedicated relationship manager to handle his/her banking needs. The concept will be introduced in rest of our other branches eventually.

NMB Call center established in 2012 was upgraded with an objective to resolve customers financial needs through just one phone call. Trained/skilled personnel are deputed at Call center to take care of the customers financial needs without them having to travel to any of the banks' branches.

In the day of globalization, the customers wish for banking services in their finger tips, with this in mind, the Bank will continue to invest in upgrading the banking software.

The Bank will work towards forming strategic alliance including merger/acquisition with both national and international Financial Institutions.

Risk Management FrameworkAt NMB Bank, a robust Risk Management Framework is in place. A key benefit of the framework is that it brings together information on governance policies, accountabilities and roles and responsibilities for all those involved in risk management. Key elements of the framework include the adoption of the standard process and policies across the Bank. An independent review is carried out of risk management processes to ensure risks are effectively controlled and managed and that the risk profile of the Bank has been critically reviewed periodically.

This framework formalises and builds upon existing processes, as part of the Bank's commitment to continuous improvement in governance.

The framework seeks to strengthen risk management by ensuring that an internal control system is in place that enables the executives to understand, manage and satisfactorily control risk factor, the risk profile of each unit is critically reviewed within the last 12 months and a responsible body such as internal audit verifies that view.

The overall business strategies and significant policies of the Bank are approved by the Board and entrusts the Management with the responsibility of managing activities within the approved Policies/Processes. In line with NRB Directives, there are 3 Board level Committees namely Audit Committee, Risk

Management Committee and Human Resources Service Committee to delve/ discuss/ resolve various aspects of risks. In the Management level there are 7 committees namely Executive Committee, Operational Risk Committee, Credit Risk Committee, Asset & Liability Committee ,HR Recruitment Committee, Information & Technology Steering Committee and Governance Committee to identify/review and mitigate risks encompassing entire banking operations. These committees have been working effectively to manage risk of the Bank. The risk culture is embedded in the staff from day one itself. The Bank strongly believes in Risk Management culture hence one of its chosen values is "Be Prudent for sustainable and consistent growth"".

Money Laundering risk is one of risks that the country is concerned about. The Bank in its endeavor to restrict money laundering risk has invested a huge amount in AML software. The software helps in identifying high risk profiled individuals and also identifies transaction profile mismatch of a customer thus sends early signal for an investigation. A dedicated AML Officer has also been appointed for effective monitoring of AML activities. The Know Your Customer details as required under NRB Directives have also been obtained of majority of the customers and effort is ongoing for obtaining KYC details of 100% customers.

Audit CommitteeIn line with NRB's Directives, an independent Audit Committee has been set up under the chairmanship of Non Executive Director. Additional Non Executive Director along with Head Compliance, Operational Risk & Audit are the member and member secretary respectively. Internal Audit unit reports directly to Audit Committee. The Committee is committed in its responsibilities as outlined in Terms of Reference thereby meeting at regular intervals to discuss audit issues raised by Internal Audit unit. Audit Committee thus makes a valuable contribution towards mitigation of probable risk. The audit reports after discussion/reviews are escalated to the Board for their reference.

Audit Committee held 15 meetings during the fiscal year. The total allowance paid to 2 Non Executive Directors were NPR270,000/-. Member Secretary being a staff does not entertain allowance for the meetings.

Internal Audit of the bank was outsourced to G.P Rajbhahak & Co. but during the fiscal year, the Banks' own Internal Audit team was set up with 2 qualified CAs as part of the audit team members. Internal Audit carries out audit of every unit/branch on a continuous basis.

Sundar & Co. has been a statutory auditor for the last 3 fiscal years.

Risk Management CommitteeRisk Management Committee has been formed under the chairmanship of a Non Executive Director. Chairperson of Audit Committee is also a member of the Committee. Rest of the members are Head Credit Risk Management, Head Audit & Compliance and Chief Operating Officer. The high risks identified in management level committees are tabled in Risk Management Committee which in turn are escalated to the Board for further reference/action. In this way no risk issues come as a real surprise to the Board. Amongst other risk issues, results of quarterly 'Stress Testing' is also discussed in the Committee. The feedbacks of the Committee members are recorded and carried out for any rectification action thus the Committee acts in a very responsible and proactive way towards solving any risk.

Deviation from NRB Directives/ Rules & Regulations are the biggest threat for the stability of any financial institution hence risk issues like maintenance of Capital Adequacy, Liquidity

positions, CD Ratio, Risk appetite of the Bank are minutely analyzed and discussed in the Committee.

HR Service CommitteeIn line with NRB Directive, HR Service Committee was formed under the chairmanship of a Non Executive Director. CEO, Deputy CEO, Chief Operating Officer and Head Human Resources are the members and member secretary respectively. The Committee meets as and when changes are required under 'Employee Terms of Services By Laws' and any other significant staff related policies such as 'Succession Planning' , Staff remuneration, Organization structure etc.

Corporate GovernanceCorporate governance is important because it dictates the philosophy, practices, culture, and overall success of an organization.The Bank has a consistent corporate governance result of which it has succeeded in maintaining high-quality services and improve performance year on. Because of 'Good governance' there is an enhanced trust of all stakeholders in the Bank. The Bank follows ethical standards, best practices and all relevant laws of the land.

'Corporate Governance' Committee has been formed under a chairmanship of CEO with Head HR as a member and Head Compliance as a member secretary. The committee meets regularly to analyze possible breaches in any of the laws/ practices and also to review new developments brought by the new regulations.

Industrial or Professional Business Relationship of the Bank The Bank maintains professional relationship with all commercial banks within the country. The professional relationship is extended to foreign banks outside the country in the form of correspondent relationship which is more than 100 in number. Correspondent relationship is essential to provide extensive services to the customers.

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Corporate Social ResponsibilityThe Bank has taken up preservation of Heritage as one of the main activities under its Corporate Social Responsibility. Amongst various activities, the Bank has given continuity to two of the activities namely Heritage Painting Competition amongst various schools and Heritage Walkathon. Heritage Walkathon is a fund raising event where the Bank collects funds to sustain its CSR activities through various donors. The Bank also contributes significant amount to Heritage Walkathon. Heritage Walkathon has become one of the most awaited activities amongst its customers/stakeholders and staff. The number of schools participating in the Heritage Painting competition have increased each year not limiting to just Kathmandu Valley but has had participants as diverse places as Manthali, Biratnagar, Banepa etc. Heritage painting competition has succeeded in installing importance of heritage preservation in young minds so that they can appreciate and work for preservation from now only.

Corporate Social Responsibility related activities are not limited to Kathmandu valley but have reaches in all the areas where the Bank has presence. Bhanubhakta statue in Bhanuchowk, Dharan was given a facelift to the delight of local residents. A water tank and a toilet has been built by the Bank in Saileshori temple in Doti. Durga Mandir in Butwal was cleaned up by the staff. Branch staff in Birtamod cleaned Birtamod city to spread awareness on importance of clean environment. Gorakhnath temple in Thapathali is painted each year, solar light has also been installed thus illuminating the entire temple premises and making it more prominent.

The Bank distributed sack full of rice to flood victims in western part. The staff themselves were involved in distributing rice to ensure distribution was done properly to proper flood victims.

The Bank will continue its CSR activities in days to come touching many more lives.

Changes in the BoardThe mantle of chairmanship was passed to Mr Pawan Golyan from Mr. Nanda Kishor Rathi during the fiscal year.

Ex General Nepal Bhusan Chand and Mr.Kamalesh Agrawal joined the Board as Non Executive Directors during the fiscal year.

During the fiscal year, the Board held 18 meetings with total allowance paid at NPR 986,850/- to the members of the Board.

The Board comprises of the following members:Mr. Pawan Golyan Chairman

Mr. Nanda Kishor Rathi Director

Mr. T.Puraharan C.P. Ramakrishnan Director

Mr. Rajendra Kafle Director

Mr. Manish Jain Director

Mr. Harish Chandra Subedi Director

Mr. Kamlesh Agrawal Director

Ex. General Mr. Nepal Bhusan Chand Director

Mr. Jeevan Man Joshi Director

Mr. Madhav Pradhan Company Secretary

Details of Promoter's Shareholdings by the Directors of the Bank is as follows:Name No. of Shares

Mr. Pawan Golyan (Chairman) 578,270

Mr. Nanda Kishor Rathi 773,857

Mr. Manish Jain 42.162

Mr. T.Puraharan C.P. Ramakrishnan 1,882,176(Rep: Yong Lian Realty)

Mr. Rajendra Kafle 1,652,650(Rep: Employee Provident Fund)

The Management TeamThe Management Team of the Bank is lead by Mr. Upendra Poudyal as CEO with more than 28 years of banking experience who is supported by the following members:

Mr. Sunil KC, Deputy CEO

Mr. Pradeep Pradhan, Chief Operating Officer

Mr. Bijay Giri, Head-Corporate Affairs

Ms. Shabnam Limbu Joshi, Head-Human Resources

Mr. Sharad Tegi Tuladhar, Head-Credit Risk Management

Mr. Pramod Dahal, Head-Compliance, Operational Risk & Audit

SubsidiaryThe Bank established a solely owned subsidiary company- NMB Capital Limited to carry out investment banking activities with paid up capital of NPR100M. The company made a net profit of NPR23.7M during the fiscal year which is a net growth of292%. The subsidiary amongst other investment activities launched Mutual Fund scheme for which an overwhelming response was received.

Details of Shares forfeited by the BankNo shares were forfeited during the year.

Outstanding loans on account of close relatives of the Chairman, Directors, CEO, Substantial shareholders are as follows:

Name Outstanding Amount

City Homes Developers Pvt. Ltd. NPR 63,000,000/-

Information on Unclaimed Dividends distributed by the BankOut of the total dividend distributed by the Bank , NPR 32,462,342 remains unclaimed by the shareholders. A notice to collect dividends have already been posted in newspaper and NMB website.

Details of Fixed Assets purchase/sales as per the requirement of section 141No fixed asset was purchased or sold during the year.

AcknowledgementOn behalf of the Board of Directors I would like to express my gratitude to all shareholders, customers for choosing NMB Bank as their preferred Bank. My sincere Thanks to the Management Staff and all staff of NMB Bank for delivering exemplary financial results each year and providing superior customer services experience to all stakeholders.

Thank You.

Pawan Kumar GolyanChairman

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BOARD OF DIRECTORS

12 34 568 7 9

T Puraharan CP RamakrishnanDirector (Representative Yong Lian Realty)

Pawan Kumar GolyanChairman

Nanda Kishor RathiDirector

1

2

3 Harischandra SubediPublic Director

Manish JainDirector

Rajendra KafleDirector (Representative Employees Provident Fund)

4

5

6

Kamlesh Kumar AgrawalPublic Director

Jeevan Man JoshiProfessional Director

Lt.Gen.Nepal Bhushan Chand (Retd)Public Director

8

7

9

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RISK MANAGEMENT

As per Basel Committee on Banking Supervision (BCBS), operational risk is defined as “the risk of direct or indirect losses resulting from inadequate or failed internal processes, people and systems or from external events” , it is the risk of loss incurring due to internal frauds, external frauds, or external events, causing damage to premises including other assets and system failure. Apart from these, operational risk also includes risk of human error which may result in erroneous processing of transaction in the system. The sources of operational risk are generally, ineffective internal

control system, inadequate security and safety measures and lack of system backup. But, determinant of operational risk is not only confined to the factors mentioned above. It is also dependent on the corporate governance of the bank. It is important to develop and maintain a culture that values integrity and creates adequate control which is possible through good corporate governance only. The pressure of achieving target growth and meeting the expected return of stakeholders, may lead the management to take risky decisions. In such circumstances if effective governance body is in place the Bank can avoid making such reckless commitments thus minimize operational risk.

EXECUTIVE MANAGEMENT TEAM

Upendra PoudyalChief Executive Officer

Pradeep PradhanChief Operating Officer

Bijay GiriHead Corporate Affairs

Shabnam Limbu JoshiHead-Human Resources

Pramod DahalHead-Compliance & Operational Risk

Sharad Tegi TuladharHead-Credit Risk Management & Control

Sunil KCDeputy CEO

COMPLIANCE

In today’s global marketplace, compliance function is one of the main functions of the banking industry. Banking organizations have greatly expanded the scope and complexity of their activities in ever changing and increasingly complex regulatory environment. Furthermore, the banks have to deal with various risks such as operational, credit and market risk therefore Compliance function must be stated effectively in any bank to avoid and manage the risk of litigation, financial penalties, regulatory constraints and reputational damage that can strategically affect an organization.

In Nepali context, the banks must follow the prevailing Nepal government law, Nepal Rastra Bank’s directives/circulars and bank’s internal Processes/Procedures/Guidelines /Policies/Product papers. In this regard, the bank’s management is responsible for establishing compliance policy that contains the basic principles to be followed by management and staff. NMB Bank has developed various policies, guidelines, processes notes, product papers, etc. to minimize the risk in the bank such as AML Policy, IT Policy, Financial by laws, Human Resource Policy, Credit Policy, AML/CDD Procedure, Account Operation Manual, Credit Process Manual etc. The Bank regularly updates such policies to be in line with current changes.

NMB Bank has a robust internal control system in place. Within compliance function there is an operational risk unit which on a regular basis reviews working process against laid down polices/process and ensures any such gaps are closed at earliest. Compliance unit is not solely responsible for ensuring compliance to policies/procedures/NRB Directives but each staff is responsible for being compliant to laid down policies/procedures. From the day one into the job, each staff is explained that compliance to laid down polices/procedures cannot be compromised. To make compliance convenient required documents are easily made available in the Bank's intranet. Internal Audit is an independent function reporting direct to the Audit Committee where 2 non-executive directors are the Chairman and a member. All audit issues are thoroughly discussed in the committee and recommendations are closely monitored for closures. All audit reports be it Nepal Rastra Bank, Statutory audit or internal audit reports are given due importance as the Management firmly believes that if issues are looked into early on, the risks can be mitigated properly.

NMB Bank does not believe compromising compliance for revenue hence is always striving for better compliance.

The impact of Operational risk is immense as huge losses might incur due to frauds, damage of assets and system failure. These losses are generally unexpected and can be devastating. The banks provide for expected loss, related to events that have already occurred in their financial statements but do not provide for unexpected losses. Such unexpected losses can have severe impact on financial position of the bank. Considering this fact, BCBS, vide BASEL II, proposed to calibrate capital charge for operational risk as well. The approach to identify the capital charge to be maintained for operational risk is known as Basic Indicator Approach hence, more the operational risk, more the capital banks need to maintain.

Sometimes legal risk is also associated with operational risk. With legal risk, there are high chances that the bank may lose the reputation in the market. Reputational risk is very critical as it may ruin the market share of the bank and customer’s loyalty towards the bank. Reputational risk ultimately brings the business down in such a way that bank may not be able to sustain its operational cost.

It is therefore important to maintain adequate internal control system and good corporate governance in the bank.

OPERATIONS

Business units no doubt are focused on income generating activities whereas Operation department’s core function is to execute the transactions generated by the business units by using various tools and being at the same time compliant to the laid down process/procedures. Operation department is also responsible for ensuring that the business remains efficient and effective by creating new, innovative solutions to meet customers' expectations.

Operation department in NMB acts as the back bone of the Bank as it ensures that operational activities are in-line with standard guidelines, policies / procedures and regulatory requirement. With such diverse activities, NMB Operations provides assistance to the branches enabling them to provide quick and error free customer services. Operation department includes delivery of services to the end users by means of automated process flow and product design, this hence works as a bridge between the business units and the branches for implementation of laid down process.Operations unit also identifies bottlenecks in operations and works to remove such negatives to improve on services.

As the operating environment gets more complex, we are facing the challenge of adopting a more forward looking approach which we believe can overcome with the help of advanced technology and continuous training of the staff. All operation units are under tremendous pressure to meet the required standards/policies/procedures at the same time providing efficient services which at times can put the staff at risk of ignoring laid down guidelines. To overcome such inefficiency staff at operations undergo trainings on regular basis to enhance their skills so that they can meet the delicate balance between compliance and services.

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BANKING PRODUCT &

SERVICES

NMB Bank is continuously working towards being innovative in product designs, development and offering a world class services to its customers.

4

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Micro FinanceRole of Micro Finance (MF) in NMB Bank has always been to provide financial services to economically marginalized, and socially backward target group rather than just keeping up with the required regulatory numbers under deprived sector lending. Microfinance has thus grown multi-dimensionally in terms of structure, working modality, added responsibilities with innovative products and area of coverage.

Beyond being dogmatic for merely setting NRB targets and imitate the existing practice of fund parking to Micro Finance Institutions, microfinance team continuously work towards serving poorest of the poor through innovative ideas despite of geographical difficulties. We have signed up with various reputable NGO/INGO to bring about changes in the lives of rural population e,g for low cost housing, we have partnered with Lumanti Nepal, for access to finance in hilly regions our partner is Blueberry Hill Charitable Trust, Heifer International Nepal for promoting animal husbandry and employment fund secretariat for providing skill enhancement training. The main concept behind these projects are to provide ‘access to finance’ to rural population, capacity building of locals, provide financial literacy and to proper channelize market access to farmers.

The bank’s objective has always been to reach out to grass root level with minimum intermediaries. We have been successful in initiating retail microfinance catering to micro small and medium enterprise businesses based on projects’ own viability without any additional collateral. It is noteworthy to mention here that one of our clients once a part-time sweater weaver, now with NMB's micro finance scheme is a proud owner of a sweater weaving micro enterprise thus transforming living standard for better. There are many such success stories brought about by NMB's microfinance products that encourage us even more to work harder for such rural population. With increase in MF portfolio, the bank has successfully maintained the portfolio's quality through critical assessment, standard working schedule, timely monitoring and evaluation. The bank is committed to reaching out to rural population and firmly believes that it is one of the trusted mediums to uplift the living standard of rural population in the country.

Institutional BankingInstitutional Banking, in short ‘IB’, is a specialized department within the bank that offers a comprehensive suite of products and services for large institutions both local and international. In particular, ‘IB’ has been providing a complex financing and advisory functions for corporate and government clients who may require tailored capital products. In addition to this, ‘IB’ also provides products on surrounding debt, equity capital markets, risk management and transactional banking.

Institutional Banking is formed in 2 streams: collection of institutional deposits and flow of institutional loans (basically in the form of non-funded). ‘IB’ supports to optimize balance sheet size and its components. ‘IB’ is one of the major contributors of fee generating income in NMB Bank as it deals mainly with non-funded transactions backed either by 100% cash margin and/or counter guarantee by an international bank. ‘IB’ is successful in establishing and maintaining new client relationships and is always ready to grab new opportunities with service par excellence.

Call CentreOver the years there have been many attempts from the Bank to put the customers at the heart of everything we do. Keeping the customers central to any changes that we are looking to put into place, and involving them in the journey that we are looking to create has always been the prime focus of the Bank. NMB Bank's "Call Centre" first of its kind in the industry is one of our attempts in delivering what we have been promising to our customers and with the changing times the Bank has been strengthening its positions in call centre through new approaches.

The prime purpose of Call Centre is to optimize the Bank's capacity to create maximum sustainable value by sensing and responding to customers' needs and wants. Our skilled client relation specialists handle every call with a personal approach, as they dedicate the time necessary to ensure that callers receive the support they deserve. Clients can speak with qualified call centre representatives who display empathy and positivity during interactions. The call centre representatives provide service with a smile, as they treat callers with courtesy and professionalism.

In days to come, the Call Centre is envisaged to be the integral part of the Bank’s business. The Bank well realizes that the key for survival is efficiency and effectiveness, with a focus on productivity and customer experience. Thus, the long term objective of the Bank is to create dynamic, personalized, interactive and integrated multi-channel communication and this is the exact direction the Call Center is focused on.

Treasury ProductsNMB Treasury Team is divided into three separate units: Treasury Front, Mid and Back office. Treasury Front Office is responsible for management of liquidity and interest rate risk on the bank’s balance sheet. It manages investment portfolio of the bank.

Treasury Mid Office analyses the risk associated with transactions related to Treasury department whereas Treasury Back office makes the settlement of the treasury transactions with the counterparts. Treasury on the whole supports to optimize balance sheet size and its components. Treasury seeks to position the Bank in a manner that provides the businesses with the necessary resources to pursue income generating opportunities while at the same time maintaining a prudent and disciplined approach to managing the balance sheet.

Treasury also helps the customers to develop the best solutions for their business whether it for effective execution of core currency transactions or for customized strategic risk management. Treasury offers tailored products specifically manufactured around the needs of the customers. The products and services provided to the customers are as follows:

1. Spot Forex Dealing: A spot trade is an agreement to exchange currencies at a rate agreed today for settlement in current or spot settlement day. It is suited to customers who require immediate settlement.

2. Forward: The forward contract is an agreement to exchange currencies with the Bank at the specific date in the future (or during an agreed period) at the pre arranged fixed exchange rate. Beside plain forward NMB has been providing customized forward services to its client providing an array of outlet to hedge their currency position.

3. Swap: Swap facilitates our clients to fulfill their need of foreign currency. Using this product, our clients can fulfill their need of one currency by exchanging other currency with the bank with the commitment of re-exchanging the currency after certain period of time.

NMB Treasury team is committed towards its customers hence regularly provides information regarding local and international money market, and foreign currency though Treasury Newsletter on monthly basis. Treasury Newsletter accumulates the experts’ view on foreign currency movement, polls from various media agencies and macro-economic view on Nepal and Global Economy. This helps our clients to make informed decisions regarding risk and opportunities to their various exposures.

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SMEHitherto, SME loans are considered of strategic importance for growth and sustainability of the bank as SMEs contribute to higher yield and diversification of risk portfolio among others. SME loans are considered to be less sensitive to systematic risks making it an important segment of the Bank's portfolio. It has a greater impact in the overall economy due to the nature and unique financing need of diverse business establishments in various productive sectors with focus on employment generation, poverty alleviation and the overall advancement of the private sector. Various studies conducted in Nepal reveal that there are thousands unregistered/semi-registered business units which do not have access to formal banking channel.

As such we have not taken the definition of SMEs for granted; instead we have directed our efforts to encourage Nepali entrepreneurs and informal business units to establish financial partnerships with us and promote their business (with the purpose of stability, growth and expansion). This approach works in reverse fashion where individuals & unregistered firms are gradually converted into SMEs. This approach can be appropriately termed as “Grounded Approach”. Further we believe this will help unregistered small business establishments towards adopting banking culture along with cross-selling of various banking products where they will have possiblity of graduating into a bigger and larger business establishments.

In our approach to SME loans, we have been continuously re-engineering the processes and models (to encourage innovation and promote scaling-up of successful SME finance models). Our approach to SME is believed to be a paradigm shift from coventional credit assessment approach to more simplified credit assessment process enabling SMEs to have direct and convenient access to banking products. We have been continuously focusing on training and development of human resources so that they are capable of understanding the business and unique financing requirements of SMEs. simplified procedures have been devised to reduce hassles where the SMEs will have easy accessibility to the bank. Further, we have been revising our internal policies and product papers in order to meet the financing gap of SMEs in compliance with regulatory requirements (policy guidelines of the Central Bank).

Priority BankingPriority Banking (PB) segment in NMB Bank was initiated in 2011. With the view to provide one stop solution to its high valued customers the bank introduced the segment with a dedicated relationship manager. Since then the Priority lounge in Babar Mahal has been providing service with for their financial needs with personal touch and quality service in absolute privacy of Priority Lounge.

Each Priority Banking customer is provided with a Priority Banking Card through which they enjoy an array of facilities at various hotels/restaurants/health clubs etc.

For any financial assistance, a dedicated Relationship Manager is just a phone call away to ensure a customer's needs are addressed immediately. The services we offer under Priority Banking has been one of the attractions for the customers to join the league. We are dedicated to our Priority Banking customers and will continue with our services introducing new products to suit our Priority Banking customer's needs. The Bank's success lies in the satisfaction of our customers.

Business BankingSome business ideas are born dead and some are buried alive, but no business is born without any dream!

At NMB Bank Ltd., our business banking unit is constantly striving to help every business to achieve that dream. We step into the shoes of our clients and envision their dreams and thus help their business to grow and flourish by providing them with tailored financial products and prompt services and solutions. Our team of dedicated relationship managers persistently try to understand the business requirements and offer products and services that best suits the business needs, so that the business can thrive in an environment that is constantly confronted by stiff competition.

Our business banking unit targets the mid-market segment i.e. firms whose financial requirements are too large for microfinance, but too small to be effectively served by corporate banking models. We try to bridge the gap between retail and corporate sector by offering customized products ranging from funded facilities like overdraft, term and short term loans, /working capital/demand loans and /trust receipt loans to non-funded facilities like letter of credit and guarantees as well as hedging products like forward contracts,etc. to name a few.

We are always ready to lend a helping hand to our clients, be it retail/wholesale/trading/manufacturing or service-oriented firm/company. Today, we can proudly say that we have a diversified sector wise lending portfolio like agriculture and poultry, manufacturing, beverage, construction, gas and water, metal and hardware products, machinery and electronics equipment, transport, wholesalers and retailers, hotels and restaurants, petrol pumps, etc.

We aim to help businesses realize their potential and aspirations. We also endeavor to maintain long term relationships with our clients by providing them quality service at competitive pricing, thus creating a ‘win-win situation’ for both the parties. Through our incessant efforts, our unit is now recognized as an indispensible department of our bank and one of the most important yield-generating units of NMB.

NMB Bank Business Banking unit is now just a doorstep away and we are always ready to nurture businesses and help it to crawl, stand and take a giant leap!

Branch ExpansionFor the last couple of years, NMB Bank has been focusing on increasing its footprints in strategically important locations. Increasing branch network helps the Bank achieve many objectives such as – reach out to new customers, expand business/customer bases, create link for existing business in new locations, increase customer service, and ultimately contribute in the Bank’s profitability.

After adding four new branches in FY 2069/70 – Bhaktapur, Kalanki, Dhunche, and Narayanghat, we added another four branches during the fiscal year in Maharajgunj, Janakpur, Lahan, and Birtamod. With all these new branches, our branch network has increased to 29 and now have presence across the nation – Birtamod in the East, Dhangadi in the West, Dhunche in the North, and Birgunj/ Butwal in the South. Our current network has spread to 20 major districts of the country.

The Bank has adopted both organic and inorganic ways for spreading our footprints. 'Memorandum of Understanding' for mergers with 4 Financial Institutions namely Pathibhara Bikas Bank, Bhrikuti Bikas Bank, Clean Energy Development Bank and Prudential Finance, was signed recently and the proceeding of merger is expected to be completed within this fiscal year.

In addition to increasing its footprints within the country, the Bank also has plans to expand its network abroad. Accordingly, Nepal Rastra Bank has approved NMB’s request to open a Representative Office in Malaysia. Opening of Representative Office will give NMB an edge over its competitors as we are only the second Bank in the country to obtain a license for an office in Malaysia

The Bank intends to make presence in all 74 districts of the country; with organic and inorganic growth the fulfillment of Bank's vision is not very far off.

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Bank’s partnership to Boost Trade Finance Opportunities, Support Small BusinessesThe Bank has entered into strategic agreement with International Finance Corporation (IFC), a member of World Bank Group for participating as Issuing Bank in its flagship- Global Trade Finance Program to boost international trade opportunities. Under this program, IFC shall extend credit guarantee facility of USD 5 Million to facilitate different trade instrument issued by the Bank. Consequently, the Bank will have access to more than 250 first class international banks for issuance of import L/C and guarantee favoring beneficiaries in different parts of the world.

The limit has been sanctioned to the Bank after conducting onsite due diligence by IFC covering bank’s management capacity, assets quality, risk management policies and procedures.

Retail BankingNMB Bank understands that it is time for banks to move towards the next level of customized offerings and services. Personal banking solutions from NMB Bank offer customized features and benefits to customers ensuring that they get the best of deals for every service they seek to avail. NMB's Retail Banking products and services are designed to meet the end-to-end needs of all types of customers. Some of the retail deposit products currently introduced by the bank includes: Atulya Bachat – savings deposit account providing high returns and Manyajan Muddati – fixed deposit for customers above 50 years.

Similarly, NMB Lavansa Bachhat caters to the needs of shareholders of NMB Bank and Nepal Telecom. This savings option assists in efficient collection of dividends. Through NMB Bank Sahuliyat Mahila Bachhat we are providing women with good returns on their savings account with a low minimum balance. NMB Bank Education Plan is devised to assist parents in saving for the further education of their children.

The bank offers retail loans for different needs and situations. Through Home Loan, we provide options to help customers in various stages of acquiring a house - buying your first home, building or upgrading, deciding to renovate or purchasing land for constructing your dream home. The bank also provides auto loan facility to purchase personal vehicle. The bank is providing professional loan service to professionals like doctors, engineers, accountants etc. Another attractive retail loan product is consumer durable loan provided to customers to purchase consumer durables such as electronic products and gadgets at zero interest.

Likewise the Bank has introduced the concept of Financial Service Advisors in 3 of its branches viz Babarmahal, New Road and Kantipath. These advisors are responsible for attending to every individual customer personally and to provide them a one window solution to all their banking needs. Over time, Financial Service Advisors services will be extended to rest of the branches so that customers can experience personalized service.

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EMBRACING

SOCIAL RESPONSIBILITY

NMB Bank Limited has created its own image in the field of Corporate Social Responsibility (CSR) by taking various social initiatives in the aera of social welfare and community development.

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Corporate Social Responsibility (CSR) is the mechanism through which banks have executed their humanitarian visions for social welfare. It is a powerful way of achieving lasting values for stakeholders/ shareholders. In this regard, NMB Bank Limited has created its individual brand image in Corporate Social Responsibility (CSR) by taking various social initiatives in the area of social welfare and community development.

In line with the theme “Lets Preserve Our Heritage Sites”, NMB Bank, in joint initiative with Kathmandu Metropolitan City Office organized 'Clean-up Program' of the Bhadrakali temple premises on the occasion of World Clean-Up Day. The also organized 3rd NMB Bank Heritage Walk to raise awareness on importance of preservation of heritage. Fund collected from the Heritage Walk was partly utilized in the renovation of “Luchu Bhuju Ajima Temple” at Ganbahal. Routine renovation/clean up of Gorakhnath temple is one of the initiatives of the Bank as a result of which the temple has got a new facelift.

NMB Bank has undertaken various initiatives for improvement of health/sanitation. The bank organized health camp in Pashupati area in joint association with Shankarapur Hospital on the auspicious occasion of Mahashivaratri. Additionally, on the occasion of the Bank’s 18th Anniversary a blood donation program was organized at the Bank's Chabahil Branch with the motto of “Donate Blood Save Life”. Both staff and customers volunteered to donate blood on the day.

The Bank is involved in encouraging young talents in raising awareness on preservation of heritage by organizing annual “NMB Bank Inter School Heritage Painting Competition” amongst students of various schools from in and outside Kathmandu. The Bank intends to carry out the Inter School Heritage Painting competition regionally to encourage more young talents.

The Bank in coordination with the Central District Office, Surkhet organized a two day relief distribution program for flood victims in five different rehabilitation shelters namely Kala Gaaun, Samjana and Uttarganga tole, Mahila Prasishyan development center, Subba Kuna rehabilitation camp, and Sattare rehabilitation camp. 300 sacks of food grains were distributed to the affected families.

The Bank will continue to undertake more CSR related activities in the days for the benefit society at large.

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