Shine Resunga Development Bank has been bestowed with the prestigious Emerging Asia Banking Award 2023, further securing triumph in three additional esteemed categories.

At the ‘Banking Conclave 2024’ hosted by the Indian Chamber of Commerce in New Delhi, India, yesterday, Shine Resunga Development Bank distinguished itself as the foremost institution in the ‘Best Bank’ category, while also garnering accolades for ‘Best Performance in Profitability’ and ‘Best Performance in Growth’ from Nepal.

The competition, which drew participation from banking institutions across India, Nepal, Sri Lanka, Bhutan, Myanmar, and other BIMSTEC nations, showcased the region’s banking excellence. Shine Resunga Development Bank’s Deputy Chief Executive Officer, Lokraj Paneru, and Chief Financial Officer, Bhuvan Panth, were present at the venue to receive these honors.

The award ceremony, inaugurated last year, highlighted the bank’s remarkable performance across various financial metrics, including total assets, total deposits, total loans and advances, net loans and advances, total interest earned, total interest expenses, fee-based income, operating expenses, net profit after tax, provisions, contingencies, and other income, with a total of 17 categories under consideration.

Upon receiving the accolades, the bank reiterated its belief that such recognitions reinforce the institution’s credibility and trustworthiness among its clientele, further solidifying its reputation in the banking sector.