Prabhu Bank has been honored with the “Bank of the Year Award” 2023. The Banker magazine published by the London-based “Financial Times” picked the prominent commercial bank for the prestigious accolade for Nepal in the Asia-Pacific category.
On Thursday, November 30, Prabhu Bank’s Chairman Lila Prakash Sitaula and Chief Executive Officer (CEO) Ashok Sherchan received the honor on behalf of the bank at an event organized in London, UK.
The bank was chosen for its contribution to small and medium enterprises (SMEs). The Banker wrote, that Prabhu Bank clinched the honor “due to its focus on improving the overall mobile banking business and creating accounts to address the needs of specific customer segments.
The Banker praises Prabhu Bank’s mobile banking app
Additionally, Prabhu Bank’s mobile banking app Digi Prabhu app was also praised for its upgraded back-end technology which now allows “a broader suite of services”. The app’s UI, navigation, accessibility, and greater security measures including two-factor authentication have also been pointed out. Likewise, the Unnati Savings Account which allows Nepali citizens working abroad to send money back home easily has been praised.
A banking success for Nepal!
After receiving the award, the bank’s CEO Sherchan expressed his delight and called it a benchmark success for the country. Here is his complete statement: “In the dynamic world of Nepalese banking, our focus persists: nurturing trust, advancing innovation, and placing customers at the core. We navigate change adeptly, leveraging technology while upholding the significance of personalized service. Together, we shape a future where banking in Nepal is seamless, secure, and empowering for all.”
He also reflected that the award would encourage the bank to offer their services and shareholders high benefits.
For its 2023 edition, The Banker recognized banks in over 150 countries under various regional categories.