Kathmandu,
Oct. 24: Nepal Investment Bank Limited (NIBL)’s 31st Annual General
Assembly (AGM) Tuesday proposed a 15 per cent stock dividend and 25 per cent
cash dividend on its total paid up capital to the shareholders.
According
to a press statement issued by the bank, net profit of the bank grew by 22.1
per cent to reach Rs. 3.11 billion against Rs. 2.55 billion of the previous
year.
The
bank has earned an operating profit of Rs. 5.24 billion before provisioning for
the last fiscal year, Rs. 1.11 billion higher than the previous fiscal year
2015/16.
After
the issuance of 15 per cent bonus share, the bank’s paid up capital will reach
Rs. 10.62 billion.
During
the last FY 2016/17, NIBL’s deposits increased by 15.7 per cent and reached Rs.
125.66 billion, and total lending reached Rs. 106.68 billion – 22.6 per cent
higher than the previous year.
The
bank said that it was serving more than 836,000 customers from a network of 61
branches, 99 ATMs and four extension counters across the country.
The
AGM also elected Kabi Kumar Tibrewal, Prajanya Rajbhandari, Surya Prakash Lal
Shrestha and Prithivi Bahadur Pande as directors representing the promoters’
group.
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