Windfall dividends for shareholders likely as commercial banks’ profits surge (Nabil, Everest and NIBL profit details)

ShareSansar, July 19:

Shareholders and investors of Nepal’s leading commercial banks can expect handsome dividends from the earnings these banks have made in the FY 2069/70.

As per reliable sources, who spoke to ShareSansar on the condition of anonymity as they were not authorized share the details at this stage, the tentative operating profit of Everest Bank Limited (EBL) for the FY 2069/70 is estimated to reach Rs 240 crore, whereas the corresponding figures for Nabil Bank Limited (NABIL) is Rs 340 crore and Nepal Investment Bank Limited (NIBL) Rs 310 crores.

Last fiscal year EBL, NABIL and NIBL posted operating profits of Rs 153 crore, Rs 266 crore and Rs 135 crore respectively.

Form the profits earned last year, EBL had offered a dividend of 31.58% (1.58% cash and 30% bonus share). Similarly, NABIL and NIBL provided dividends of 60 (40% cash and 20% bonus share) and 30% (5% cash and 25% bonus share), respectively.  

Likewise, an official at the NMB Bank said that the bank’s net profit has crossed Rs 40 crore. Last year, NMB had reported a net profit of Rs 5.2 crore. The bank didn’t pay any dividend for the fiscal year 2068/69.

Similarly, PCBL and SANIMA are also likely to report good profits than prior fiscal year.

Financial highlights of some of the commercial banks

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