KATHMANDU, JANUARY 21

Nepal Investment Bank Ltd (NIBL) successfully held its 34th annual general meeting (AGM) for the fiscal year 2019- 20 today at its head office, Durbar Marg.

Taking into consideration the pandemic circumstances, the decision was taken to conduct the meeting through a virtual medium.

The AGM highlighted the bank’s major achievements in the fiscal year 2019-20, future plans, performance targets and strategies.

Chaired by NIBL Chairman Prithivi Bahadur Pandé, the shareholders were informed in the meeting of the bank’s decision to distribute 18.5 per cent total dividend — 13 per cent bonus shares and 5.5 per cent cash dividend — on its total paid-up capital.

During the year, NIBL earned an operating profit of Rs 3.51 billion.

The net profit of the bank for the fiscal year stood at Rs 2.42 billion, while its paid-up capital reached Rs 14.24 billion, as per the release.

In the last fiscal, NIBL’s deposits increased to Rs 166 billion from the previous year’s Rs 152 billion.

Similarly, the total lending reached Rs 141 billion compared to Rs 127 billion in the previous year.

NIBL has been catering to its customer from 83 branches, 128 ATMs, 20 extension counters, 10 revenue collection counters and 59 branchless banking counters.

The bank, being the recipient of five ‘Bank of the Year’ awards for exemplary service and business, was accredited with Euromoney awards for ‘Best Bank 2018’ from the international publication — Euromoney.

Further, ICRA Nepal (International Credit Rating Agency- Nepal) has given the bank a credit rating of A.