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Balance Sheet Committed to change ... for better change ... for to Committed 2 Himalayan Bank Ltd. | Annual ReportHimalayan Bank Ltd. 2013/14 Committed to change ... for better change ... for to Committed Committed to change ...... ...... for Better. 3 Himalayan Bank Ltd. | Annual ReportHimalayan Bank Ltd. 2013/14 About us 5 Our Vision/Mission/Objective 7 Chairman’s Statement 9 Board of Directors 10 From the Desk of CEO 13 Senior Management Team 14 Organizational Structure 16 HBL Profile/History 17 Products and Services 18 Correspondent Network 20 Local Network 22 Report of the Board of Directors 24 HBL Additional Disclosure 29 [Contents] Financial Highlights 35 Head Office and Branches 81 Committed to change ... for better change ... for to Committed 4 Himalayan Bank Ltd. | Annual ReportHimalayan Bank Ltd. 2013/14 Committed to change ... for better change ... for to Committed [About Us] We at Himalayan Bank believe that we are much a part of society as any other and we have a proactive role to play for those who are striving to rise above their circumstances on the basis of enterprise and effort to pursue their dreams. With a helping hand to assist along the path of progress, these dreams could be achieved. 5 We believe we have a strong role to to be tailored as per requirement of our Bank Limited of Pakistan. Despite the play in these endeavors for growth by clientele. cut-throat competition in the Nep- stepping in to help financially. Wheth- alese banking sector, we have been er it is for business establishment or Himalayan Bank Ltd (HBL) was estab- able to maintain a lead in the primary business growth, manageable social lished in 1993 in joint venture with Habib banking activities-loans and deposits. obligation, children’s education, hous- ing needs, medical expenses etc., we can step in as a helping hand. With so many banks and financial in- stitutions in the market, what makes | Annual ReportHimalayan Bank Ltd. 2013/14 us so different? Himalayan Bank being one of the most experienced banks in the country was established as one of the first four private commer- cial banks and has a solid portfolio of commendable and unimpeachable achievements. We have helped many people to stand on their own feet. We have assisted many entrepreneurs to set up their businesses and have sup- ported many people in their time of need. Our products have the flexibility Committed to change ... for better change ... for to Committed 6 Himalayan Bank Ltd. | Annual ReportHimalayan Bank Ltd. 2013/14 Committed to change ... for better change ... for to Committed [Our Vision] Himalayan Bank has the vision of becoming a leading bank of the country by gaining substantial business growth through premium products and services to customers, thus ensuring attractive and substantial returns to all our stakeholders. [Our Mission] 7 Himalayan Bank’s mission is to become the preferred provider of quality financial services in the country. There are two components to our mission: ‘preferred provider’ and ‘quality financial services’. We believe that our mission will be accomplished only by satisfying these two important components with the customer at the focal point of all our efforts. Himalayan Bank Ltd. | Annual ReportHimalayan Bank Ltd. 2013/14 [Objective] To become the Bank of first choice is the main objective of the Bank. Committed to change ... for better change ... for to Committed 8 Himalayan Bank Ltd. | Annual ReportHimalayan Bank Ltd. 2013/14 Committed to change ... for better change ... for to Committed From the Desk of [CHAIRMAN [ Dear shareholders, On behalf of the Board of Directors, I would like to congratulate and thank the management team and staff members for their resolve and dedication to the Bank. Despite the political and economic headwinds facing the economy, we were pleased that the Bank reported strong profits for the fiscal year 2013-2014. Overall, the economy of the country remained similar to the previous fiscal year. 9 The economy continued to experi- As mentioned above, the Bank per- ly towards the Bank’s profitability and ence excess liquidity, making it diffi- formed well despite all the challenges management continues to identify cult for banks and financial institutions facing the Nepalese economy. During further areas of growth within cur- to deploy capital into sound invest- the year, a lot of effort was put into rent profit drivers. Additionally, man- ment opportunities. Despite the chal- strengthening the overall governance agement continues to explore new lenges, we were encouraged by a few structure of the bank. Various policies business opportunities to deliver new positive macro developments put into were revised to suit the changing mar- products and services. motion during the fiscal year. ket conditions. Similarly, several oper- ating manuals were reviewed and re- Despite the political headwinds, we The government was able to close vised to ensure risk mitigation, whilst remain hopeful that the country will some important FDI deals, particular- not compromising on operational ef- move forward in consensus. We strive ly in the hydropower sector –one of ficiency. The Bank is continuously im- to remain focused to ensure the Bank | Annual ReportHimalayan Bank Ltd. 2013/14 the prime potentials of the country. proving its operations, processes and remains a pioneering leader in the Investment in our power sector can procedures to reduce significantly the banking industry in Nepal and look start a circular constellation of forces risk of errors or control lapses. forward to serving our clients in the that can provide strong tailwinds to a New Year and beyond. holistic development process. Political Although the political economy of the uncertainty, however, still has the po- country remains uncertain, the Bank Thank you. tential to derail all potential for prog- aims to continue its growth strategy. ress. Disagreements amongst political The Bank aims to focus on SMEs and parties and their inability to agree on retail lending opportunities to grow key constitutional issues remain the its credit portfolio. Key businesses main risk facing public confidence like credit, remittance, treasury and Manoj Bahadur Shrestha and investor sentiment. cards have been contributing strong- Chairman, Board of Directors [Board of DIRECTORS] 1. Mr. Manoj Bahadur Shrestha Chairman 2. Mr. Salim Amlani First Vice Chairman 3. Mr. Himalaya S. Rana Chief Advisor to the Board 4. Mr. Radha Krishna Pote Director 8 7 5. Mr. Upendra Keshari Poudyal Professional Director 6. Mr. Prachanda Bahadur Shrestha Director 7. Mr. Surendra Silwal Alternate Director 8. Mr. Sushil Bikram Thapa Director 2 6 5 4 1 3 Committed to change ... for better change ... for to Committed 12 Himalayan Bank Ltd. | Annual ReportHimalayan Bank Ltd. 2013/14 Committed to change ... for better change ... for to Committed [From the Desk of CEO] The Bank’s performance in fiscal year 2013-14 has been remarkable. The Bank was able to put up a great performance during the fiscal year and I would sincerely like to thank the Management and all the employees for their contributions to this effort. Business expansion has been the focus of the Bank. The credit portfolio of the bank con- The country has been reeling through will continue to focus on business ex- tinued to grow while it was well sup- uncertainty. The political economy of pansion through identification of new ported by the growth in deposits. the country is far from ideal. The polit- opportunities in all areas of business While SME and retail lending has been ical parties are yet to reach consensus and in particular, credit expansion, de- the focus of the Bank during the year, to promulgate the new constitution posit mobilization, remittance volume we also looked into some of the prof- adding fuel to the already existing and cards. Credit remains the bread itable business opportunities in the uncertainties. There were however a and butter for the Bank and the Man- corporate sector. The expansion of our few good signs on part of the newly agement is putting concerted efforts branch network and customer base formed government. A few important to identify lending opportunities. The coming through remittance services FDI related deals were signed thereby Management is constantly looking have greatly helped in ensuring con- sending a positive signal to the in- for opportunities to improve its tech- tinuous growth of the low cost yet sta- vestors. Hydro, agriculture and tour- nology for better and quality services ble savings deposit and this focus will ism seem to be the sectors that the and this shall continue in the upcom- 13 continue in the coming years as well. government is focusing and rightly ing year as well. The Bank will contin- so given the comparative advantage ue to explore new unchartered areas Technology has been one of the the country possesses. The Bank too for branch expansion. Considerable strengths of the Bank for years now is trying to align its businesses around amount of time and effort will be pro- and continuous improvement in IT these sectors alongside SME’s that are vided to expansion of card and online was sought during the year to ensure still largely un-banked. The banking businesses. Every opportunity will be efficiency and quality service deliv- industry is also going through a phase explored to enhance the Bank’s fee ery. The Management invested large of consolidation that is reflected from and commission based income. chunk of its time to strategize busi- the mergers announced in the last ness operations and as a result, new year or so. Recent history suggests I am very much hopeful that the ded- avenues has been explored to boost that there is diminishing impact of ication of the Management coupled remittance business that has been political uncertainty in private sector with hard work and sincerity of all the Himalayan Bank Ltd.
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