CHIEF EXECUTIVE OFFICER'S REPORT The business is making steady progress against its strategic objectives.
I am pleased to report that the Bank has delivered a good performance in the financial year 2074-75. We have been able to deliver on our promises because of our consistent and focused strategy. There is an increase in the volume of risk assets by 16 percent to Rs. 44.56 billion compared to Rs. 38.43 billion last year. The Bank has been able to manage its credit portfolio better as a result of which the Non-performing credit to Total credit is 0.18 percent. The provisions made are adequate to cover all the potential credit losses as of the balance sheet date. After transfer of Rs. 438 million to general reserve, Rs. 28 million to exchange fluctuation reserve, Rs. 346 million to regulatory reserves the net retained earnings as at 16 July, 2018 stood at Rs. 1,403 million. The Bank has proposed cash dividend of 17.50 percent out of this amount. This performance reflects a good momentum in the underlying businesses and disciplined management of risks and costs.
Representation
As at 16 July 2018, the Bank maintained fifteen points of representation which included twelve branches and three extension counters. In addition to this, services were also extended to our clients & customers through twenty-six ATMs located at different parts of the country.
Global Banking (GB) & Commercial Banking (CB)
Both GB and CB have achieved a well-balanced growth over the fiscal year. Assets, liabilities and contingents
have all grown, which attests to rounded overall performance. Our team has executed to the strategy to be the core bank and capitalized on growth opportunities. Further, we have also been able to diversify our revenue streams by introducing new products, variants and increased product penetration. New clients are also expected to provide impetus to our top line growth. We take pride in standing by and for our clients during the interest rate volatilities observed over the last fiscal year. With a more narrowed range in the Interest Rate Corridor, we anticipate less volatility, as the market continues to mature. We have been supporting the local banking community by providing comprehensive Correspondent Banking services. Straight2Bank (S2B), our world class digital platform provides payments, collections and trade services to our Corporate clients through various levels of online connectivity. We have integrated S2B with Nepal Clearing House Limited (NCHL) to provide seamless and straight through national payment processing via Inter-bank Payment System (IPS). In line with our digitization agenda, we have launched Virtual Account for Collection. These enhancements are expected to improve payment & collection experience for our clients and improve their working capital cycle and drive their productivity & efficiency. Our Financial Market business offers wide range of Online trading services which include FX Spot, Forward and Derivative
Blended Finance Conference was hosted by the Investment Board of Nepal (IBN) in April 2018 in partnership with Standard Chartered Bank and Confederation of Nepalese Industries
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