Nepal Bank rights share auction starts Monday

ShareSansar, Sept 15:

Nepal Bank Limited, the country’s oldest commercial bank, has decided auction 24 lakh 90 thousand and 804 units of its rights shares, which remains unclaimed.

The auction will open on tomorrow (September 16) and close on September 24, according to a notice issued by Nepal Bank today.

The interested buyers can get the auction forms from the bank’s collection centers, and one bidder cannot place more than one bid, according to the notice.

As the minimum price of a unit share is Rs 100, a bidder must bid Rs 100 or more. He or she must bid for a minimum of 100 unit shares and the maximum of 24 lakh 90 thousand and 804 units.

The bank had posted a 348.80 percent growth in profit for the last fiscal year, earning a net profit of Rs 79.15 crore as against Rs 17.63 crore in the previous fiscal year.

In a sign of the bank’s improving financial health, Nepal Bank’s nonperforming loans declined to 4.53% from 5.58% in the previous fiscal.

Nepal Bank Limited has also been able to meet the minimum paid-up capital fixed by Nepal Rastra Bank for commercial banks. The bank raised its paid-up capital to Rs 3.71 arba from Rs 1.77 arba reported at the end of last fiscal.

The bank’s deposits increased 12.37 percent to Rs 62.98 arba and loans and advances rose 27.46 percent to Rs 37.85 arba.

The bank’s EPS stands at Rs 208.08 and net worth at Rs 992.42. Call in advance money has not been considered while calculating earnings per share and net worth per share.