Nepal Bankers’ Association (NBA) hosted its Annual Function on the occasion of its 38th Annual General Meeting. The program commenced with welcome remarks by the outgoing President of the Association, Mr. Sunil K.C. In his welcome speech, Mr. KC expressed heartfelt gratitude to all stakeholders for their unwavering support throughout his tenure. He also shared an overview of Association’s key initiatives and achievements during the last fiscal year. He emphasized that Nepalese banking sector has emerged as one of the most robust in South Asia, crediting Nepal Rastra Bank (NRB) for its guardianship role in steering the industry towards stability and growth.
The event featured a Keynote presentation by Mr. Kamalika Das, Regional Economist for South Asia at International Finance Corporation (IFC). She provided valuable insights into the current global economic landscape, highlighting key challenges and potential solutions. Ms. Das observed that South Asia’s economic growth trajectory remains comparatively robust, attributing this resilience to increased remittance inflows that have strengthened private consumption and contributed to the region’s economic stability.
During the program, continuing its tradition of honoring an individual who has made significant contribution to the banking sector, for this year, NBA presented a Certificate of Honor to Mr. Rajan Singh Bhandari. A distinguished figure of Nepal’s banking sector, Mr. Bhandari has held prominent positions including Chairman of Citizens Bank International Ltd., President of Nepal Bankers’ Association, Executive Director of Nepal Rastra Bank, among others. His leadership was instrumental in advancing economic, monetary and financial reforms, as well as fostering collaboration within the banking sector. In his speech, Mr. Bhandari expressed optimism about the bright future of Nepal’s banking industry. While acknowledging the challenges faced by the sector, he emphasized its capacity to overcome them through innovation and collaboration. He noted the growing adoption of digital technology as a transformative force. He also expressed profound gratitude to NBA for the honor.
The program also felicitated two former CEOs: Mr. Ratna Raj Bajracharya and Mr. Kiran Kumar Shrestha who left the bank in the review year for their invaluable service to the banking sector and NBA.
In his remarks, Mr. Bajracharya conveyed deep appreciation for the support and guidance provided by Nepal Rastra Bank in fostering a competitive banking environment. He emphasized the critical role of government collaboration in advancing the sector’s development and ensuring its competitiveness on a global landscape.
Similarly, Mr. Shrestha expressed his gratitude for the recognition and praised NBA for its proactive efforts in addressing challenges faced by banks. He stressed the importance of collective action, highlighted the need for greater support from the government side.
The Chief Guest of the event, NRB Governor Mr. Maha Prasad Adhikari, highlighting the resilience of Nepalese banking sector, he noted that the sector has successfully navigated through various challenging circumstances and emerged stronger. Emphasizing its progress, he mentioned that the Nepalese banking industry is notably more transparent compared to other sectors. Mr. Adhikari assured that the reform policies introduced by NRB are designed to strengthen the banking system rather than hindering banking sector’s growth. While acknowledging the present challenges, he urged all stakeholders to remain optimistic and work collaboratively to overcome present challenges. Additionally, the Governor commended NBA for its valuable contribution to the industry and extended his best wishes for its ongoing success and future endeavors.
Concluding the program, the newly elected NBA President, Mr. Santosh Koirala, expressed heartfelt thanks to all attendees. He affirmed his commitment to fostering collaboration and advancing the Association’s goals in the coming days.
