Nabil Bank to distribute 11% cash dividend to shareholders

Kathmandu, Dec. 28

The 39^th Annual General Meeting of Nabil Bank Limited held on Thursday in Kathmandu approved 11 per cent cash dividend to its shareholders.

"The AGM has passed the proposal of the bank's Board of Directors to distribute 11 per cent cash dividend from the profit of the last Fiscal Year 2022/23," the bank said in a statement. It earned Rs. 6.4 billion in profits last year.

Chairman of the bank, Upendra Paudyal, said that considering the latest scenarios of the country's economy, Nabil Bank has played a supportive role in modernising Nepal's banking sector, providing dynamism to the country's commercial and industrial activities, and creating employment opportunities in the country.

He said that the bank has given top priority to corporate governance and customer satisfaction.

Meanwhile, the bank has been running the Nabil School of Social Entrepreneurship Programme for the development of entrepreneurship in various sectors.

This programme was started to solve long-term social problems through entrepreneurship in society and promote economic and social transformation by promoting enterprises based on innovative thinking, read the statement.

According to it, 335 students have participated in this programme so far, 52 enterprises have been created, and 872 people have been employed.

Paudyal informed that the bank is expanding its business by focusing on the United Nations' Sustainable Development Goals (SDGs) while also advancing corporate social responsibility programmes based on various goals such as poverty alleviation, education and health.

Nabil has been providing services through its 22 extension counters and 313 ATMs within a network of 266 branches across the country. 

 Published in The Rising Nepal daily on 29 December 2023.