Nepal Investment Bank concludes 33rd AGM, 19% dividend approved

Jan 13, 2020 | Investopaper

The 33rd Annual General Meeting (AGM) of Nepal Investment Bank Ltd. (NIBL) held on January 13, 2020 (Poush 28, 2076) at National Assembly Hall, Pradarshani Marga, Kathmandu, chaired by Mr. Prithivi Bahadur Pandé, decided to distribute 19% dividend, 10.5% stock dividend (bonus shares) and 8.5% cash dividend, on its total paid-up capital to the shareholders.

During the year, NIBL earned operating profit of NPR 4.13 billion. The net profit of the bank for FY 2075/76 stood at NPR 3.32 billion with paid-up capital to reach NPR 14.22 billion after the issuance of 10.5% bonus shares for the FY 2075/76. In the FY 2075/76, NIBL’s deposits have increased by 8.45%, reaching NPR 152 billion. Similarly, the total lending has increased by 5.23% reaching NPR 127 billion. The NPA ratio of the bank is at 2.78%.

The bank has above 10 lakhs customer base being catered from its 82 branches, 16 extension counters, 10 revenue collection counters and 57 branchless banking outlets across the country. NIBL has a network of 124 ATMs and leads a consortium of 15 Visa Associate banks and 4 NPN member banks.

NIBL is the only bank in the country to have received the “Bank of the Year Award” five times from Financial Times Group’s The Banker, a UK based Bank magazine. It has also received the “Euromoney Award for Excellence – the Best Bank 2018”. Further, the bank has maintained the credit rating [ICRANP-IR] A+ from ICRA Nepal.

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