Nabil Bank to distribute 34pc dividend

Kathmandu, January 8

The 35th annual general meeting of Nabil Bank has approved the proposal to distribute 34 per cent dividend — 22 per cent cash and 12 per cent bonus shares — to its shareholders from the profit earned in fiscal year 2018-19.

In the last fiscal year, the bank earned a profit of Rs 4.24 billion, as per a media release.

Its operating profit for the year stood at Rs 6.03 billion. Compared to the previous fiscal, the bank’s operating profit and net profit rose by 6.61 per cent and 6.45 per cent, respectively.

The bank’s net worth is Rs 23.19 billion, while after distribution of the bonus shares, its total paid-up capital will cross Rs 10.09 billion.

Addressing the AGM, Nabil Bank’s Chairperson Shambhu Prasad Poudel said the bank has facilitated in modernising the country’s banking sector, given momentum to the business and industrial activities, generated employment opportunities, as well as contributed to the government’s coffers through taxes.