NIBL concludes 34th AGM; endorses total of 18.50% dividend to its shareholders

Nepal Investment Bank Limited (NIBL) has successfully held it's 34^th Annual General Meeting (AGM) for the fiscal year 2076-77 on 21^st January 2021 at its head office, Durbar Marg, Kathmandu. 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 2076-77, future plans, performance targets, and strategies. Chaired by the bank chairman Mr. Prithivi Bahadur Pandé, the shareholders were informed in the meeting of the bank’s decision to distribute 18.5 % total dividend; 13 % bonus shares, and 5.5% cash dividend, on its total paid-up capital.

During the year, NIBL earned an operating profit of NPR 3.51 billion. The net profit of the bank for FY 2076/77 stood at NPR 2.42 billion with paid-up capital to reach NPR 14.24 billion. In the FY 2076/77, NIBL’s deposits have increased to NPR 166 billion from the previous year’s total NPR 152 billion. Similarly, the total lending has reached NPR 141 billion compared to NPR 127 billion from 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.