Prime Bank’s AGM today, 15 % dividend in the pipeline
Fri, Jan 10, 2014 12:00 AM on AGM/Special AGM,
ShareSansar, January 10:
Prime Commercial Bank will hold its Annual General Meeting today.
The sixth AGM of the commercial bank being held at Nepal Academy hall is due to endorse 15 percent dividend, including 10 percent bonus shares, to the shareholders from the net profit it posted in the last fiscal year 2069/70.
The AGM is also holding an election of the bank’s Board of Directors.
The commercial bank had posted a hefty growth in profit in the fiscal year of 2069/70 — a 78.06 percent rise compared to the net profit it made in the previous fiscal year of 2068/69.
The bank earned a profit of Rs 47.97 crore in the last fiscal year as against Rs 26.94 crore reported in the previous fiscal year.
The bank’s nonperforming assets (NPA), however, rose by an alarming 193.42 percent, from 0.76 percent in the previous fiscal to 2.23 this year.
The bank’s deposits increased 20 percent to Rs 28.81 arba. Likewise, its loans and advances grew 12.24 percent to Rs 21.21 arba.
