An annual report is a document that provides a comprehensive overview of a company's performance and activities over the past year. It is typically published by publicly traded companies and shared with shareholders, investors, and the general public. The annual report of Nabil Bank, a leading commercial bank in Nepal, offers valuable insights into the bank's financial performance, strategies, and operations.
The annual report of Nabil Bank for the fiscal year ending June 30, 2021 (FY2021) highlights the bank's strong financial performance, with net profit reaching NPR 8.02 billion (approximately USD 68.2 million). This represents a significant increase compared to the previous year, when the bank's net profit was NPR 6.77 billion (approximately USD 57.5 million). The bank's total assets also increased by 9.6% to NPR 307.4 billion (approximately USD 2.6 billion), while its total deposits grew by 7.7% to NPR 254.2 billion (approximately USD 2.1 billion).
The annual report also highlights the bank's commitment to providing high-quality financial products and services to its customers. Nabil Bank has a strong presence in the retail banking sector, with a network of branches and ATMs across Nepal. In FY2021, the bank introduced a number of new products and services, including a mobile banking app and a debit card with an embedded microchip for enhanced security. The bank also continued to invest in its digital infrastructure and implemented a number of measures to enhance cybersecurity and protect its customers' data.
In addition to its financial performance, the annual report of Nabil Bank also provides information on the bank's corporate social responsibility (CSR) initiatives. The bank is committed to supporting the communities in which it operates and has implemented a number of initiatives to promote education, health, and environmental sustainability. In FY2021, the bank donated NPR 20.5 million (approximately USD 173,000) to various CSR initiatives, including the construction of a school in the remote Dolakha district and the provision of medical supplies to hospitals in Nepal.
Overall, the annual report of Nabil Bank provides a comprehensive overview of the bank's performance and activities over the past year. It highlights the bank's strong financial performance and commitment to providing high-quality products and services to its customers. It also demonstrates the bank's commitment to corporate social responsibility and its efforts to support the communities in which it operates.