Shine Resunga Bags the Prestigious Emerging Asia Banking Award
Shine Resunga Development Bank has won the Emerging Asia Banking Award 2022 based on the categories of Best Performance and Profitability, and Best Performance and Growth. The Indian Chamber of Commerce had invited applications from banks and financial institutions from six countries, including India, Bangladesh, Bhutan, Myanmar, Sri Lanka, and Nepal, for the open competition.
For the award, the Indian Chamber of Commerce's Department of Finance and Policy had determined various indicators, including total assets, total deposits, total loans and advances, self-owned funds, total interest income, total interest expenses, revenue based on fees, operating expenses, net profit after tax, provisions and contingencies, and other incomes, among others. The bank that excelled in these indicators was announced as the winner.
Internationally renowned Price Waterhouse Coopers (PWC) was the decisive authority in choosing Shine Resunga for the prestigious award. PWC has a presence in 150 countries in 7,000 locations worldwide. The award ceremony was held in Goa, India.
Mr. Prabhas Rai, the Head of Branding at Shine Resunga Development Bank, received the award. He stated that the bank's ethical banking practices had been recognized since its establishment, and receiving the Emerging Asia Banking Award further demonstrates the bank's success and elevation in the banking sector, as mentioned by the bank's CEO Mr. Prakash Poudel.
Mr. Poudel further stated, "Receiving international awards is the result of the contribution and support of the bank's directors, employees, depositors, borrowers, and all stakeholders, from the general public to industrialists and businessmen." The bank had previously won the Best Managed Development Bank Award in the previous year's award show held by New Business Age.
Shine Resunga Development Bank is a national-level development bank located in Butwal, Lumbini Province. With authorized capital of NPR 5 billion and paid-up capital of NPR 4.28 billion, the bank operates 88 branches, one extension counter, and 16 ATMs throughout the country.