RBB throws 44th anniv bash

Kathmandu, January 23:

Rastriya Banijya Bank (RBB) today celebrated its 44th anniversary. It has largest deposit investment, profit and 120 branches.

Speaking at the programme, RBB chief executive officer Janardhan Acharya said, “Six years ago, RBB was on the verge

of collapse. Now, however, the bank is running successfully. With the efforts of all concerned, the bank is not only running

well but it has acquired the status of a modern and competitive bank in the country.”

According to data, RBB has been earning regular profits in the last five consecutive

years. The bank’s total profit of the last five years is Rs 7.34 billion including Rs 1.77 billion profit

of the year 2008. This year, the treasury operation alone contributed a profit of Rs 493 million to the total profit of the bank. The NPA has been reduced to 20 per cent. RBB has been able to recover bad loans with interest worth Rs 17.5 billion.

“All this has contributed strongly towards the net worth of the bank,” said Acharya. He added, “The bank is in a sound position but there are still many things to be done. The bank had negative net worth of Rs 22 billion at the time of its takeover five years ago, but with vigorous efforts for recovery it has bagged attractive profit.”

Now the negative net worth of the bank has been improved. It has come down from Rs 22 billion to Rs 15 billion.

“Though we are in a problematic situation, we are recovering and will soon be heading towards brighter days,” said Deependra Bahadur Chettri, governor of Nepal Rastra Bank.

Rastriya Banijya Bank chairman Krishna Hari Banskota

said, “Defaulters should be punished. For this, effective investigation should be conducted and action taken. We need long-terms plans an these are possible only through exact decisions, transparency and effective working schedules.”

At least 101 branches of RBB are automated and it has developed and introduced several new modern banking services like ABBS, e-banking, ATMs and VISA debit card. RBB remit for inward remittances from foreign employment centres has been introduced and implemented.