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Bank Overview
Chairman's Message
Dear Shareholders,
I am pleased to address all of you with encouraging overall performance of Global Bank Ltd. after completing it's second year of operation. Year 2007-08 have been satisfactory for the bank. It achieved net profit result of Rs. 61.23 million contribution the positive balance of Rs.22.62 million in the reserve and surplus side. Bank has achieved remarkable growth in the business side as well. Deposit has been increased to Rs.7.31 billion recoding 142% growth from previous year and Loan & Advances increased to Rs.5.08 billion with 98% growth from previous year. Total assets size of the bank has been increased by 134 %. Achievements, goodwill and brand name of the bank were reflected at the time of IPO issue of the bank. General public applied with more than Rs.10 billion of application for the issue of Rs.0.3 billion.
Bank is focusing toward the branch network to make the bank; "Bank for All". we opened four new branches in year 2007-08 and our branch network increased to seven by the year end, which are located in Birgunj, Kantipath, Baglung, Pokhara, New Road, Biratnager and Lahan and are all located in high-potential economic areas. By this time our branch network increased to twelve, adding branches at Bauddha, Gyaneshwor, Butwal, Narayangarh and Kirtipur. Branch network is expected to serve the Bank's objective to expand into new markets, increase business volumes, grow the customer base in all over the country, as well as to support businesses to enter and expand in the market.
Our bank has been focusing on maintaining and growing our customer base and protecting our market share amidst intensifying competition, and these are situation-driven goals. From a longer-term perspective, the bank has also initiated and worked on a number of development plans to enhance its competitiveness with the aim to establish itself as a customer-centric organization. Bank has established internal evaluation process of the Credit Risk to protect the interest of stakeholders in long run. Internal systems are resigned and improved; development of staff knowledge and skills is being taken care for tangible success in terms of increased business volume and a growing customer base. Now bank is focusing toward more stable and low cost deposit and diversified portfolio through SME and retail banking to achieving a satisfactory rate of growth in consumer banking, in line with our intention to increase our share of this target market from the competitive banking industry of the country.
Your bank will be therein the market with new products and services as well as innovative marketing strategies and these were warmly welcomed by target customer groups. Bank is at the final stage for issuance of VISA card. SMS banking and E-banking services are already offered by the bank. We will be in touch with the extensive ATM network to make our service reachable here and there.
I would like to take this opportunity to thank our regulators, customers, vendors and suppliers, as well as all other stakeholders for their support during the year. I would also like to thank members of the Board of Directors, the management and staff for their efforts which have helped the Bank to achieve our goals.
Chandra Prasad Dhakal
Chairman
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