Nepal Investment Bank convenes its 35th AGM; endorses proposal of 16% dividend for its  shareholders

Sun, Dec 5, 2021 5:47 AM on Featured, AGM/Special AGM,

Nepal Investment Bank Limited (NIBL) has successfully held it's 35th Annual General Meeting (AGM) for the fiscal year 2077-78 on 3rd December 2021 at its head office, Durbar Marg, Kathmandu. The meeting was conducted through a virtual medium, on Zoom. The AGM highlighted the Bank's major achievements in the fiscal year 2077-78, future plans, performance targets, and strategies. Chaired by the Bank chairman Mr. Prithivi Bahadur Pandé, the shareholders were informed in the meeting of the Bank’s decision to distribute 16.00% total dividend; 12.611 % bonus shares, and 3.389 % cash dividend, on its total paid-up capital.

During the year, NIBL earned an operating profit of NPR 5.11 billion. The net profit of the Bank for FY 2077/78 stood at NPR 3.55 billion with the paid-up capital to reach NPR 18.30 billion (after Bonus Share of FY 2077/78). In FY 2077/78, NIBL’s deposits have increased to NPR 179 billion from the previous year’s total NPR 168 billion. Similarly, the total lending has reached NPR 162 billion compared to NPR 140 billion from the previous year.

NIBL has been catering to its customer from 88 branches, 131 ATMs, 20 extension counters, 10 revenue collection counters, and 58 branchless banking counters. The Bank, being the recipient of five Bank of the Year awards for exemplary service and business, was accredited with Euromoney awards for “Best Bank 2018” and “Best Bank 2021” from the international publication - Euromoney. Further, ICRA Nepal (International Credit Rating Agency- Nepal) has given the bank a credit rating of A.