Kathmandu. Prabhu Bank Limited has received the ‘Bank of the Year 2023 – Nepal’ award from the prestigious UK financial magazine ‘The Banker’. This is the first time in the history of the bank that the bank has received this prestigious international honour.
The award was received by the Bank’s Chairman Mr. Leela Prasad Sitaula and Chief Executive Officer (CEO) of the Bank Mr. Ashok Sherchan. The event was attended by CEOs, CFOs and senior officials of more than 350 banks from 120 countries.
The Banker’s Bank of the Year Award, which has been given since 2000, is one of the most prestigious awards in the world banking. The Banker awards this award to each of the best performing banks from more than 120 countries and over 1000 banks.
Despite the challenging situation of global economic slowdown, the Prabhu Bank has been recognized for its excellent financial performance, building a competitive business environment and improving financial services.
After receiving the award, Chairman Mr. Leela Prasad Sitaula said that this achievement is another milestone for Nepal’s banking system. He expressed confidence that the international recognition received in the current economic situation has further strengthened the confidence in the banking sector and will motivate the customers and shareholders to give better returns.
Similarly, CEO Ashok Sherchan said that the bank’s success is the result of collective hard work of management, employees, shareholders, customers and well-wishers. He further stated that this achievement is not only the success of Prabhu Bank but the entire banking sector of Nepal and pledged to provide more effective and excellent services to the bank in the days to come.
Prabhu Bank at present has been serving more than 31 lakh customers through its 300 branches, 71 extension counters and 310 ATMs across the country. After merging with Century Commercial Bank in 2079 B.S., Prabhu Bank has established itself as one of the leading commercial banks of Nepal. Currently, the bank’s paid-up capital is Rs. 23 billion, total assets are about Rs. Rs. 333 billion, deposits Rs. More than Rs. 220 billion and Rs. 253 billion.
