Nepal | July 13, 2020

NIBL to distribute 19 per cent dividend

Himalayan News Service
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Kathmandu, January 14

The 33rd annual general meeting (AGM) of Nepal Investment Bank Ltd (NIBL) held here today, chaired by Prithivi Bahadur Pandé, has decided to distribute 19 per cent dividend — 10.5 per cent stock dividend (bonus shares) and 8.5 per cent cash dividend — on its total paid-up capital to the shareholders.

During the year, NIBL earned operating profit of Rs 4.13 billion, as per a media release.

The net profit of the bank for fiscal year 2018-19 stood at Rs 3.32 billion, with paid-up capital to reach Rs 14.22 billion after the issuance of 10.5 per cent bonus shares.

In the fiscal year, NIBL’s deposits increased by 8.45 per cent, reaching Rs 152 billion.

Similarly, the total lending increased by 5.23 per cent to reach Rs 127 billion. The NPA ratio of the bank is at 2.78 per cent, the release adds.

The bank has a customer base of above one million being catered from its 82 branches, 16 extension counters, 10 revenue collection counters and 57 branchless banking outlets across the country.

NIBL has a network of 124 automated teller machines (ATMs) and leads a consortium of 15 Visa associate banks and four NPN member banks.

NIBL is the only bank in the country to have received the ‘Bank of the Year Award’ five times from Financial Times Group’s The Banker, a UKbased bank magazine. It has also received the ‘Euromoney Award for Excellence – the Best Bank 2018’. Further, the bank has maintained the credit rating [ICRANP-IR] A+ from ICRA Nepal.

A version of this article appears in print on January 14, 2020 of The Himalayan Times.

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