GIBL approves 16% dividend

Kathmandu, Jan. 13

Global IME Bank Limited's 14 Annual General Assembly has approved 16 per cent dividend to its shareholders. They will get 14 per cent bonus shares and 2 per cent cash dividend.

The bank earned Rs. 4.17 billion operational profits and Rs. 2.91 billion net profit in the last fiscal year 2019/20. After the distribution of the bonus shares, the paid up capital of the bank will reach Rs. 21.63 billion.

The AGM has elected Chandra Prasad Dhakal as the chairman of the bank. Cabinet Shrestha, Ram Bahadur Bhandari, Sudarshan Krishna Shrestha, Krishna Prasad Sharma and Dipak Sharma are the directors of the bank.

Presenting the bank's financial reports of the FY 2019/20, Dhakal said that the bank was committed to implement the policies announced by the Nepal Rastra Bank.

He said that the bank has acquired and merged 18 banks and financial institutions so far.

The bank's interest income in the last fiscal increased by Rs. 6.96 billion. However, the COVID-19 related restrictions and business closure caused the risk management of Rs. 1.95 billion. It has resulted in 5.31 per cent increase in net profits, said Dhakal.

GIBL has mobilised Rs. 2.49 billion in deposits and Rs. 2.13 billion in loans by now.

Its network is expanded to 264 branches in 73 district.

Published in The Rising Nepal daily on 14 January 2021.