NIBL tots up 40pc growth

Kathmandu, September 6:

Presenting the Board of Directors’ (BoD) yearly report for fiscal year 2007-08 on the occasion of the 22nd annual general meeting (AGM) of Nepal Investment Bank Ltd at its head office at Durbar Marg here today, bank chairman and chief executive director Prithvi Bahadur Pandé said the bank had increased its deposits from Rs 24,489 million to Rs 34,452 million (a growth of 40.68 per cent) during the period.

“Also, during the period loans and advances grew from Rs 17,769 million to Rs 27,529 million (a growth of 54.93 per cent),” he said adding that the net profit of the bank for review period was Rs 697 million — a growth of 39.12 per cent over last year. The bank’s non-performing loan is well within control at 1.12 per cent.

The AGM endorsed the decision of the BoD to give 3:1 bonus shares and 7.5 per cent cash dividends from the profit of the fiscal year 2007-08 and 2:1 rights shares (one share for every two shares) on the bank’s paid up capital after issuance of bonus shares.