NIC ASIA Bank Announces 30% Dividend, Rs 322 million Operating profit in first quarter

sharesansar, October 28th:

NIC ASIA Bank has proposed 30 percent dividend to its shareholders from the net profit it earned in the last fiscal year 2070/71.

The BoD meeting of bank held today decided to recommend a dividend of 15 percent cash and 15 percent stock dividend to its shareholders. However, the decision is subjected to approval of Nepal Rastra Bank and the Bank’s Annual General Meeting.

The Bank in the previous fiscal year had given dividend of 20 percent cash from the earning of fiscal year 2069/70.

In spite of extremely challenging market conditions, the Bank posted a Net Profit of Rs. 832 million in last fiscal  year, which was its first year of operation after the historic merger of Bank of Asia Nepal with NIC Bank.

The Earnings per Share (EPS) and Return on Equity (ROE) for the year stood at Rs. 35.98 and 15.93 percent respectively.

In the first quarter of the current fiscal year , the Bank has posted an Operating Profit of Rs. 322 million with total deposits and loans of NPR 47.88 billion and NPR 38.52 billion respectively, as per the statement released by the bank.

Currently, the Bank has a nationwide branch network of 66 branches, one extension counter and 61 ATMs.