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Prabhu Bank awarded the title of ‘Bank of the Year-2023’

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Kathmandu. Prabhu Bank has received the title of ‘Bank of the Year 2023’. The London-based Financial Times, UK, awarded Prabhu Bank with the ‘Bank of the Year 2023 Nepal’ award for the year 2023.

Although the world economy is in the throes of an all-round recession, Prabhu Bank has been honored with the award based on the evaluation criteria of its ability to provide financial services to more citizens, to create a developed business environment among competing banks, and to develop strong financial performance in the face of challenges to develop new markets and customers’ businesses.

In a ceremony held in the UK, Prabhu Bank Chairman Lilaprakash Sitaula, Bank’s Chief Executive Officer (CEO) Ashok Sherchan received the honour.

Chairman, CEO, CFO and other senior managers of more than 350 banks from more than 120 countries participated in the award ceremony.

After receiving the award, Chairman of the Board of Directors Sitaula said that he has succeeded in adding a brick to the success of Nepal’s banking system.

This honor received in the background of the current economy has provided success in the banking sector. President Sitaula said, more help will be given to our services and shareholders to give a fair return. ”

CEO Ashok Sherchan said that with the hard work of Prabhu Bank’s directors and employees, shareholders, customers and well-wishers, they were able to receive the honor.

“This happy message is not only for our organization, shareholders, employees, customers and well-wishers, but I think it is the success of the banking sector of Nepal.

It is also believed that such success will be achieved in Nepali banking sector in the future,” said CEO Sherchan. He also promised to make the bank’s services more efficient.

The ‘Bank of the Year’ award, which has been given by ‘The Banker’ since 2000, is the most prestigious award in global banking. The ‘Bank of the Year’ award is considered to be the standard of banking excellence i.e. the ‘Oscar of the banking industry’.

The Banker selects one of the best banks from each country out of more than 1,000 banks from more than 120 countries around the world and awards them with the ‘Bank of the Year’ award every year.

This institution started with Prabhu Finance in the year 2006 and has grown stronger, expanded and incorporated various banks with the passage of time and has reached its success today.

Prabhu Bank is currently providing quality banking services and facilities to more than 31 lakh customers nationwide through a network of more than 300 branches, 71 extension counters, and 310 ATMs.

Merged with Century Bank Prabhu in December 2079 and started integrated business. 8 banks and financial institutions have merged with Century Bank, Development Bank and Finance Company.

At present, Prabhu Bank’s paid-up capital is 23 billion, assets are about 3.3 billion, deposit collection is 2.5 billion and loan flow is 2.53 billion.

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