For the second time in three years Nepal Investment Bank Limited (NIBL)has been named Bank of the Year in this country by the Financial Times Group's The Banker.

The award is based on growth and performance in terms of capital, assets, return on equity and management. NIBL's net assets rose from Rs 5 billion to Rs 13 billion after Nepali management took over the bank in July 2002. In fiscal year 2003-2004 it boosted net profit by 32 percent and its return on equity was 21 percent.