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Annual Report 2019 NMB Final.Indd Contents Chairman’s Statement ....................................................................................................................................................................................................................... 3 Directors Report ................................................................................................................................................................................................................................................. 5 CEO’s Message ...................................................................................................................................................................................................................................................... 25 Financial Graphs ............................................................................................................................................................................................................................................. 27 Annual Financial Statements FY 2018-19 NMB Bank Ltd. ....................................................................................................................................................................................................................................................... 33 Annual Financial Statements FY 2018-19 OM Development Bank Ltd................................................................................................................................................................................................. 153 Notice about 24th Annual General Meeting ............................................................................................................................ 254 Chairman’s Statement On behalf of the Board of Directors, I take this opportunity Despite the challenges, the Bank has managed to scale to express my sincere gratitude and warm welcome up its business and achieve good fi nancial results during to all the respected shareholders, invitees, offi cials, the review period. During the review year, the Bank’s media personnel, ladies and gentlemen to the 24th deposits increased to NPR 98.52 Billion while loans Annual General Meeting of NMB Bank Limited. I am and advances grew to NPR 91.89 Billion i.e. a growth of extremely delighted to welcome everyone here to this 16.58% in deposits and 21.47% in loans and advances gathering of shareholders aſt er the successful merger of as compared to previous year. The Bank has been able Om Development Bank Ltd. with NMB Bank Ltd. to record net profi t of NPR 2.26 Billion during the review year, a growth of 21.77% compared to the previous year. It is well-known that NMB Bank, with the intention This profi t was earned when the Bank’s paid-up capital of strengthening its existing capital base and market was only NPR 9.62 Billion. coverage completed the merger with Om Development Bank Ltd. that had a strong presence in Gandaki The agenda to distribute 21% bonus share and 14% Province and Province 3. The unifi ed banking operation cash dividend to the listed shareholders aſt er merger commenced from September 28, 2019. Aſt er the merger, from the reserve fund and distributable profi t of the the Bank’s paid-capital, deposits, loans and advances, fi scal year 2018/19 is placed for approval in the Annual and reserve fund reached NPR 11.53 Billion, NPR 123.57 General Meeting. The distributable profi t of former Om Billion, NPR 115.29 Billion and NPR 9.5 Billion respectively Development Bank amounting NPR 548.9 Million aſt er while its branches network and extension counters have regulatory adjustments as on Mid July 2019 and share reached 163 and 5 respectively as of Mid October 2019. swap surplus of NPR 603.6 Million has been accounted This historic merger was the result of hard-work and in the reserve fund of the Bank as on merger date. contribution of the directors, shareholders, and staff of both NMB Bank and erstwhile Om Development Bank, NMB Bank has always been at the forefront in along with the persistent support of regulatory bodies. accommodating the changes in the fi nancial markets. With their patronage, advice, suggestions, and prompt The Bank has been involved in various activities with decisions, we have succeeded in reaching this stage the aim of improving the fi nancial condition of the today. Therefore, on behalf of the Board of Directors, country by exploring potential opportunities in the I as the Chairman of NMB Bank Ltd. wish to extend fi nancial sectors in cooperation with the domestic and heartfelt thanks to all who have been instrumental in international organizations. Further, the Bank has also orchestrating the successful merger. been undertaking initiatives to enhance the capacity of its employees. The liquidity crisis prevailing in the overall banking sector did not worsen as anticipated during the review The Bank has expanded its investment in industrial and period. The management of deposit and loan interest agricultural sector that contributes towards employment rates remained challenging due to the higher proportion generation in the country to remain in line with the strategy of investments as compared to savings along with the of increasing credit investment in the productive sector. fl uctuations in liquidity from time to time. Although the The Bank has been off ering Women Entrepreneurship investment sector did not grow as expected due to slow Loan with an objective of empowering women interested growth in domestic industries, trade and productive to operate own business and be self-reliant. Likewise, sectors; the growth in remittance infl ows, increase the Bank has also been providing various loan facilities in agricultural production, ease of supply of energy, targeted at youths returning from foreign employment rapid development of construction works, expansion as part of government’s self-employment campaign. The of industrial production, and increase in tourist arrivals Bank has given priority to expanding loan investments in created a positive impact. small and medium enterprises to be in solidarity with the NMB Annual Report-2018/19 3 Nepal Government’s policy of focusing on helping local On behalf of the Board of Directors, I would like to thank entrepreneurs, while keeping the economic prosperity Mr. Hari Babu Neupane, Director representing public of the local communities. With the plan to expand our shareholders from 15 February 2016 to 13 March 2019 investment in the priority sectors and support the overall for his invaluable contribution and guidance. I also development of the country, the Bank continues to work take this opportunity to welcome Ms. Sunity Shrestha on products to help raise the economic standard of the (Hada) and Mr. Ravi Shankar Sainju to the NMB Board. marginalized people. My sincere appreciation to the respected shareholders, regulatory bodies, media, customers, Board of Directors The Bank has achieved the goals pursuant to its vision and staff of the Bank for their invaluable support and 2020 and is continuously putting eff ort in moving ahead confi dence. keeping in line with its 5-year strategic plan for achieving sustainable business expansion and profi tability. We assure our commitment in achieving the goals and be one of the best banks of Nepal. Thank you. The Bank has board representations from competent Pawan Kumar Golyan and strong institution like Employees Provident Fund, Chairman Nepal and international partnership with Netherland’s Date: 9 January, 2020 government supported Nederlandse Financierings- Maatschappij Voor Ontwikkelingslanden N.V. (FMO). We are grateful to FMO for their technical assistance and enhancement of capacity development. 4 www.nmbbanknepal.com Directors Report Respected Shareholders, On behalf of the Board of Directors, I extend my Lending: 0.32%, Term Loan: 23.75%, Overdraſt Loan: warm welcome and greetings to all the shareholders, 6.45%, Trust Receipt/Import Loan: 4.51%, Demand representatives of various regulatory authorities, and Working Capital Loan: 19.95%, Hire Purchase representatives of diff erent institutions, and all other Loan: 4.55% and Other Loans: 26.91%. Of the Bank’s stakeholders for your honorable presence in the 24th total loan investment, exposures in Hydropower and Annual General meeting of NMB Bank Limited. Renewable Energy, Agriculture, Small and Medium Enterprises, and Tourism sectors remained at Trust that you have already received the Annual Report 20.38%, 11.25%, 6.55%, and 3.89% respectively. The post-merger of NMB Bank Ltd. and Om Development share of risk assets portfolio in productive sector Bank Ltd. including separate Statement of Financial during the review period remained at 42.08%. The Positions, Statement of Comprehensive Income and Bank shall continue to increase credit investment in Statement of Cash Flow of both merged entities for the productive sector in the future as well. FY 2018/19. I now, with the permission of this revered Annual General Meeting, would like to present the Investment: The Bank increased its investment by directors report pursuant to the Company Act, 2006, 8.85% to take its total investment portfolio of NPR Clause 109 (4), comprising of the Bank’s fi nancial 10.02 Billion in the previous year to NPR 10.91 Billion progress, summary of the country’s economy, challenges during the fi scal year 2018/19. Out of total investment, faced by the banking industry, and the achievements of the Bank invested NPR 870 Million in organizations’ the Bank during the review period. shares, NPR 9.38
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