Prabhu Bank named ‘Bank of the Year 2023’

KATHMANDU: Prabhu Bank has been awarded ‘Bank of the Year 2023’. Prabhu Bank has been named Bank of the Year 2023 by The Banker, a publication of the London-based Financial Times.

The renowned ‘Bank of the Year’ award, granted by ‘The Banker’ since 2000, is the most distinguished accolade in worldwide banking.

The ‘Bank of the Year’ award is widely regarded as the gold standard of banking excellence, dubbed the “Oscar of the Banking Industry.”

Prabhu Bank Chairman Lilaprakash Sitaula and Chief Executive Officer (CEO) Ashok Sherchan received the ‘Bank of the Year 2023’ award jointly on Thursday at an event in the United Kingdom (UK).

According to the Financial Times, the bank was chosen as the best based on variables such as financial services supplied to residents, connections with other banks, and financial performance skills.

Chief Executive Officer Sherchan expressed his delight that the bank has been recognized. The award was given to Prabhu Bank’s board and staff, shareholders, customers, and well-wishers, according to CEO Sherchan.

The ‘Bank of the Year’ award is considered the ‘Oscar of the banking industry’. “The Baker” has been honoring the best bank from each country out of more than 1000 banks from more than 120 countries around the world.

Chair, CEO, CFO and other senior managers of more than 350 banks from more than 120 countries participated in the award distribution ceremony.

According to the bank, it is providing banking services to more than 31 lakh customers nationwide through more than 300 branch network, 71 extension counters, 310 ATMs.

Currently, Prabhu Bank’s paid-up capital is 2.3 billion, assets are around 3.5 trillion, deposit collection is 2.5 trillion and loan flow is 2.53 trillion.