The Nepal Bankers’ Association (NBA) on Thursday felicitated country’s noted banker Prithvi Bahadur Pandé for his remarkable contribution to the country’s banking sector over the last four decades and the role he has played in strengthening Nepal’s financial sector.
On the occasion of the 23rd annual general meeting of NBA held on Thursday, Chiranjibi Nepal, governor, Nepal Rastra Bank (NRB) felicitated Pandé, chairman, Nepal Investment Bank Ltd (NIBL), as one of the pioneers in banking industry and praised his contribution in boosting the standards of country’s financial institutions.
Pandé, who is also the former president of NBA, started his banking career as a chartered accountant at NRB in October 1978.
“The experience I garnered during my time at NRB laid the foundation, opened up opportunities, boosted my self-confidence and expanded my network, which in turn prepped me for my career shift as a commercial banker,” said Pandé after being felicitated.
Following a decade-long service at the central bank, Pandé initiated the first Nepali-led joint venture Bank — Himalayan Bank Ltd — in 1988. After managing Himalayan Bank for 10 years, Pandé’s team took over Nepal Indo Suez Bank, presently NIBL.
Pandé remarked that the large number of banks in the country is the prime challenge facing the banking sector today. “NRB has realised this and has started the process of consolidation. NRB is on the right path as we need more mergers and acquisitions of banks,” he observed.
Lower the number of banks, make them stronger and better, lower overhead costs and ensure greater outreach and diversity, Pande’ observed.
People’s News Monitoring Service
