Kathmandu, January 6:

Nepal Investment Bank Ltd (NIBL) has announced 12.5 per cent cash dividends for its shareholders.

This was informed at a programme organised on the occasion of 19th annual general meeting of the bank.

The deposit of the bank was only Rs 11. 525 billion last year which has now reached Rs 14. 255 billion this year.

The increment is a rise by 23.7 per cent compared to last year. Similarly, loan and investment has increased by 42.5 per cent and has reached Rs 10.453 billion from Rs 7.338 billion during previous year. The bank has been able to earn Rs 23.2 billion net profit this year. The profit is 51.6 per cent more than than the previous year, a statement distributed by the bank informed.

In the course of expanding its branch offices, the bank has established its 13th branch in Narayangarh in October/ November. The branch office is also linked to the other remaining 12 offices through ‘online banking system’.

In course of providing modern banking services to its customers, the bank has already distributed about 30,000 visa electronic debit cards. The bank is also offering the facility of paying mobile phone bills through the banking system.

The bank has also initiated ‘15 minutes banking service’ to provide fast and reliable services to customers. According to this service, customers can conclude their banking services within 15 minutes.

The bank is planning remittance and plastic money services in the near future. For this, 45 sub agents and 13 branch offices have been set up throughout the nation, the bank informed.

Prithvi Bahadur Pande, chairman and the chief acting manager of the bank said, “The bank is committed to provide high-quality services to its customers.”

The London-based Financial Times Group ‘The Banker’ has named the bank in 2003 and 2005 as the ‘Bank of the Year’. It is the only bank, which received this honour twice within three years.