NIBL to distribute 11% dividend

Kathmandu, Dec. 22

Nepal Investment Bank Limited (NIBL) has decided to distribute 11 per cent dividend (4 per cent bonus shares and 7 per cent cash dividend) to its shareholders from the profits it made in the fiscal year 2021/22.

The 36^th Annual General Meeting (AGM) of the bank for the last fiscal held Thursday in Kathmandu ratified the decision of the board of the company.

Last year, NIBL earned an operating profit of Rs. 6.28 billion, and net profit stood at Rs. 3.79 billion with the paid-up capital to reach Rs. 19.03 billion after the distribution of bonus shares.

The bank's deposits increased to Rs. 186.76 billion last year from Rs. 179.40 billion a year earlier. Similarly, the total lending has reached Rs. 164.82 billion compared to Rs. 161.91 billion in the previous year.

The AGM of the bank approved the merger with Mega Bank Nepal Ltd. Both the banks will start joint operations as a merged entity very soon, said NIBL in a statement.

NIBL has been catering services to its customer from 88 branches, 131 ATMs, 23 Extension Counters, 10 Revenue Collection Counters and 59 Branchless Banking Counters.  ICRA Nepal (International Credit Rating Agency- Nepal) has given the bank a credit rating of 'A'.

 Published in The Rising Nepal daily on 23 December 2022.