Nepal's first joint venture bank, Nabil Bank, has earned a record operating profit of Rs 814 million in the fiscal year 2003/4. The figure is up by around 12 percent compared to that of the last fiscal year. 'The unprecedented profit has been generated through the implementation of the bank's strategy of cost management, income enhancement and focus on quality credit,' says a bank press statement. 'We have invested in technology and human resources, two key drivers of sustainable success.'

The bank has a paid up capital of Rs 492 million and general reserves of Rs 652 million and has recently completed 20 years of operation in Nepal.