National Cooperative Bank celebrates 16th anniversary; 10K member cooperatives receive 14% dividend

National Cooperative Bank has celebrated its 16th anniversary with a high level event on Shrawan 19, 2075 which was attended by Minister for Federal Affairs and General Affairs Hon. Lal Babu Pandit, President of National Cooperative Federation Mr. Keshav Prasad Baral, member of HoR Hon. Ghana Shyam Khatiwada, member of PA Hon. Pashupati Chaulagai, Executive Director from NRB Mr. Janak Raj Sharma, secretaries from different ministries among others.

The national pool of cooperatives that has around 10K cooperatives from the entire nation as its shareholders has a paid up value of Rs 1.04 arba. In the previous fiscal year, The bank collected deposits of Rs 20 arba and disbursed credits of Rs 13 arba thereby earning profit of Rs 30 crore. NCB had distributed dividend of 14% to its member cooperatives in the earlier fiscal year. the financial institution is also gearing up to open provincial offices at the capitals of all 7 provinces in near future, as per the statement issued by the bank.