Nepal Investment Bank holding 28th AGM; 40% dividend to be endorsed

ShareSansar, October 22:

Nepal Investment Bank Ltd (NIBL) is convening its 28th AGM today. The bank’s AGM will kick off at Nepal Academy Hall, Kamaladi Kathmandu at 10 AM.

The AGM is likely to approve 40 percent dividend proposed by the bank’s board of directors (BoD). With earning net profit above one billion in the last fiscal year 2070/71, the bank has already proposed to offer 25 percent bonus shares and 15 percent cash dividend to its shareholders.

It is to be noted that once the bank’s dividend is approved by concerned regulator and stakeholders, its paid up capital will be second only to Global IME Bank Ltd among private commercial banks.

Last year, NIBL had offered 25 percent cash and 10 percent bonus shares to the shareholders from the net profit it posted it the previous fiscal year.

The commercial bank with the largest number of account holders had earned a net profit of Rs 1.95 arba in the last fiscal year 2070/71.