An Introduction To Banking In Nepal Essay

“ Bank ” originally derived from the word “ Banco ” intending “ Bench ” is termed as a fiscal establishment which are established in order to supply fiscal services to its clients while assisting the investors at the same clip. ( De Alberquque, M. , 1855 ) These are licensed by the authorities so as to assist in the pecuniary facets of the state. In contrast to Nepal, by and large Nepal Rastra Bank ( NRB ) the cardinal Bank of Nepal has divided into different groups and had licensed as per the restrictions for the service.

They are categorized as Commercial bank into Group ‘A ‘ , Development Bankss ‘B ‘ and likewise finance companies and recognition brotherhoods to Group ‘C ‘ Machhapuchchhre Bank Limited: An overview Machhapuchchhre Bank Limited ( MBL ) is lawfully registered as commercial bank in 1998 in Nepal. It started its banking services from western part of Nepal with its caput office in Pokhara, Nepal.

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Having a slogan “ Service with personal touch ” , the bank now has expanded its concern into assorted parts of Nepal. Company ‘s profile: Mission and Corporate scheme: Machhapuchchhre Bank Limited ( MBL ) believes on the proviso of the best services throughout different parts of Nepal to ease the clients with the extravagant banking services to their places. The bank is besides one of the modern Bankss with assorted modern engineerings which of class make banking a radical involvement and great aid.

With its company motto, the company ‘s mission is to advance banking to different portion of Nepal whether its cragged part or Terai or even mountains, MBL strives to ease the clients with fast, efficient and dependable service with personal touch every bit good as run intoing the international criterions at the same clip. MBL believes to supply its full fledged banking service and had started its full fledged subdivision in the Jomsom located high up in mountains excessively.

It has its corporate scheme of functioning fast, efficient and dependable service to advance banking either by supplying credits, sedimentations and even safe and fastest remittal. The bank has targeted to open 4 more subdivisions in the twelvemonth 2009/10 so as to supply service with personal touch. Mission and Vision chart: Mission statement of an organisation is a formal written statement which guides the aims and actions to be fulfilled. The mission statement serves ‘the model or context within which schemes are formulated ‘ ( Hill Ch. , Jones, G. , 2008 ) The mission statement besides gives guidelines of the actions and aims to derive.

G. Johnson, K. Scholes and R. Whittington defined mission as ‘overriding intent in line with values or outlook of interest holders ‘ . ( Researching corporate scheme, pp13 ) Vision statement of an organisation is the future note where the company wants to be. G. Johnson, K. Scholes and R. Whittington defined vision as ‘desired future province: the aspiration of the administration ‘ ( Researching corporate scheme, pp13 ) Mission Statement “ To Serve clients with best, effectual and efficient service in low-cost rates and supply each and every service with personal touch. ”

Vision Statement To be the top commercial bank with full fledged service all over Nepal and to be the No. 1 Bank of all twelvemonth recognized by Nepal Rastra Bank ” Fig, 1 Mission and Vision chart of Machhapuchchhre Bank Limited Goals and Aims: MBL possess a end to be one of the popular and perfect service oriented bank instead than net income oriented one. MBL even had issued assorted programs and aims to assist in the increase of the services to its clients. In order to ease the banking service, MBL had planned to get down telephone banking by which the clients can remain in touch with their fiscal minutess merely a measure off from phone.

They even had prepared a end to publish recognition cards which some Bankss merely have the service which can be said as another of import end and aims to hold a new bend in to banking. In add-on, to broaden the service, MBL will be opening its 4 more subdivisions really shortly. The aims of the bank can be analyzed to supply maximal services to the people in each and every portion of Nepal. Organizational Structure, Stakeholders and Management: MBL is operated and managed by Chairman Mr. Surya Bahadur K. C. , 6 board of managers and CEO Mr. Bhaikajee Shrestha.

With approximative figure of 320 staffs all over the subdivisions and caput office, the company follows Line organisation but the determinations doing authorization are being granted to the subdivision directors for their designated subdivision. Assorted determinations, programs and policies are being decided by board members and concluding blessing is done by the president nevertheless twenty-four hours to twenty-four hours operational determinations are being approved by the CEO itself.

Normally, the organisation has all its deputation of power being centralized except twenty-four hours to twenty-four hours operational determinations apart from caput office to the subdivision directors for their designated subdivision. Most of the stakeholders are the board of managers and some political organic structures excessively but bulk of the investings are done by the board of managers. Besides some staffs occupy some value of the bets every bit good. Chairman/Board of Directors Chief Executive Officer Fig. 2 Organization chart of Machhapuchchhre Bank Limited

Business Profile: Merchandises and Servicess: MBL provides assorted scopes of services to the clients. It is the innovator in presenting the latest engineering and to present the centralised banking package named Globus Banking System developed by Temenos NV, Switzerland. Furthermore, MBL besides provides cyberspace banking, nomadic banking, any subdivision banking, Trade Finance, Credits, ATMs ( Automated Teller Machines ) , Remittance and assorted kind of sedimentations. The company is really earlier traveling to establish MBL recognition cards and telephone banking every bit good.

Besides, MBL is the first bank in Nepal to supply PSTN ( Public Switched Telephone Network ) to its valued clients. Operational Performance: MBL overall has shown a good public presentation as per its unaudited fiscal studies of the twelvemonth 2008/09. Over its past decennaries MBL has shown increase on net income every bit good as increase on its subdivisions which of class shows that the company is making good so far. At the terminal of 4th one-fourth, MBL had a net net income of 92M which shows that the company had legion minutess throughout the whole one-fourth.


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