ADBL to operate as “A” class Commercial Bank

The Agriculture Development Bank Limited (ADBL) has made an impressive gain in its loans and deposit portfolios in the fiscal year 2065/066 after it took restructuring measures in the Bank’s management and administration, the Bank said on its fiscal review here on Friday.
The State-owned oldest bank has made drastic change to be one of the major commercial bank in the fiscal year 2065/066, able to compete with other banks in the Nepalese financial market.
The bank is planning to install the Core Banking System and starting Foreign Exchange (FOREX), Letter of Credit (L/C), Online Banking, ATMs services including other new banking products as per the customers demand for the modern banking access, the bank said.
The ADBL has reduced the Non Performing Loans (NPL) to a single digit of 8.66 per cent from 11.69 per cent in the fiscal year 2065/066, said Janak Raj Shah, Chief Executive Officer (CEO) of the bank.
In the same period, the bank collected Rs.35.04 billion as a deposit and floated Rs.38.22 billion, which is the record high capital mobilization of the bank, he said.
The bank was able to refund Rs.4.17 billion from the government that has been utilized for the loan wavier by the Maoist-led government. With this, the capital reserve of the bank stood at Rs.3.89 billion.
Likewise, the bank has succeeded to expand its branch network to 88 and reestablished 18 branches affected during the conflict period.
Shah informed that with the restructuring and reforms procedures the bank would be developed as ‘A’ class commercial banks. The management of the banks is fully concentrated towards the up gradation of the bank in the coming future, he said.