BIRATNAGAR:

NIC Bank Ltd held its ninth annual general meeting (AGM) here on Friday. “The bank has posted Rs 96.6 million net profit in the fiscal year 2005-06,” chairman of the bank, Jagdish Prasad Agrawal, informed the AGM. It also increased its deposits by 40 per cent to Rs 8.77 billion compared to the previous fiscal year, states a press release issued here by the bank. The AGM approved the 10 per cent bonus shares and 0.5263 per cent cash dividend. “It is also opening two more branches; one in Pulchowk and the other in Nepalgunj.