Kathmandu, 22 December: Nepal Investment Bank Limited (NIBL) has successfully conducted its 36th Annual General Meeting (AGM) today. The Bank’s Chairman, Prithivi Bahadur Pandé presided over the meeting and informed to distribute 11% dividend(4% bonus shares and 7% cash dividend).
During the year last fiscal, NIBL earned an operating profit of Rs 6.28 billion. The net profit of the Bank for FY 2078/79 stood at Rs 3.79 billion with the paid-up capital to reach Rs 19.03 billion (after Bonus Share of FY 2078/79).
In the FY 2078/79, NIBL’s deposits have increased to Rs 186.76 billion from the previous year’s Rs 179.40 billion.
According to the bank, the total lending has reached Rs 164.82 billion compared to Rs 161.91 billion in the previous year.The AGM also approved the merger proposal with Mega Bank Nepal Ltd. and would be starting joint operations as a merged entity very soon.
NIBL has been catering to its customer from 88 branches, 131 ATMs, 23 Extension Counters, 10 Revenue Collection Counters and 59 Branchless Banking Counters. The bank, being the sixth-time recipient of “Bank of the Year” awards for exemplary service and business by the Banker Magazine published by Financial Times and was accredited with Euromoney awards for “Best Bank 2018” and “Best Bank 2021” from the international publication – Euromoney. Further, ICRA Nepal (International Credit Rating Agency- Nepal) has given the bank a credit rating of A.
People’s News Monitoring Service
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