Nepal SBI Bank declares 15% bonus and 7% Cash

Sharesansar, November 24:

The 370th BOD meeting of Nepal SBI Bank Limited (NSBI) has proposed 15 percent bonus share and 7 percent cash dividend to its shareholders from the net profit it earned in the last fiscal year 2070/71.

The meeting of the Board of Directors of Nepal SBI Bank Ltd. held on 23.11.2014 has approved the complete Financial Statement for the financial year 2070/71(2013/14).

During the year the Bank has been able to record an operating profit (before possible loan loss provision) of Rs. 1,441,436,231 and net profit of Rs' 922,984,007. The Bank achieved 19.64% growth in net profit compared to the previous fiscal year.

The meeting resolved to approve distribution of Bonus shares @15o/o and cash Dividend @7%,subject to approval of NRB and upcoming 21't AGM of the Bank'

In the last fiscal year Nepal SBI Bank had declared 12.5 percent bonus share and 7.5 percent cash dividend to its shareholders.