Dear Stakeholders,

We have completed our second year of business operation which incidentally is only our first full year of service as we started commercial operation in January 2007. With your support the Bank has been able to report a robust growth in business, profitability and network for year ending July 2008.

For the year 2007-08, the Bank has been able to reflect encouraging growth in its core business with net interest income showing an increase of 460% aided by 98% growth in its Loan assets and a 142% growth in its deposit liability. Despite maintaining a very high liquidity levels with Credit Deposit ratio of only 69%, the Bank has been able to register an operating profit growth of 151%.

Within a short span of time, we have been able to establish a good brand name in the financial market along with the good relation with Customers, Investors and Regulator and have been able to gain the trust of all our stakeholders. The Global Bank management team is aware that in this highly competitive market, service excellence and good corporate governance, is the bedrock on which rests the continued trust of our stakeholders and the growth of our Bank. The Bank management is focused in steering a safe course through these tough times with disciplined management, good corporate governance and regulatory compliance. We will continue to perfect our policy and objective to suit the business requirement and promote value creation to have long term positive impact on our Bank. The long term achievement is our focus and strategies that will go a long way to insure sustainable growth of the Bank shall be pursued at all times.

Global Bank shall augment its service delivery standards which I am sure will reflect in greater customer loyalty, improved brand image and ultimately stronger financial health of the Bank. We shall do this through more efficient use of technology and by providing latest technological solutions to meet customers' banking need. We shall enhance our SMS banking, internet banking, card services and ABBS banking facilities to offer more arrays of customer friendly products.

We continue to strive to provide the best possible balanced returns to our shareholders. We shall do this by taking a balanced business growth strategy, maintaining required expense discipline and by keeping a tight control on credit, market and operation risk. We will also not lose sight of our long term strategies. GBL will remain prudent & disciplined; stay vigilant in managing issues & shall continue to strengthen our fundamentals & competencies. We will be nimble in the way we operate and selectively seize opportunities to build our strong pillars. We will focus for long-term growth prospects to meet the expectation of promoters, regulators and other stakeholders.

We are committed to continue to upgrade our technology to meet the ever changing needs of our customers which shall be the centre of our strategy. I would like to reiterate my commitment to deliver trust & confidence to all our stakeholders & look forward for your continued confidence and support. My focus and attention is to drive the organization to create measurable long term value for its stakeholders.

Finally on behalf of the management, I would like to thank all stakeholders, regulators, and customers for their support. I would also like to thank my entire Global Bank team, whose untiring effort has contributed to make the Bank what we are today.

Anil Gyawali
Chief Executive Officer