13th December 2024, Kathmandu
Nabil Bank has announced a 10% cash dividend for its shareholders from the retained earnings of the fiscal year 2080/81.
Nabil Bank’s 10% Cash Dividend
This decision was approved during the bank’s 40th Annual General Meeting (AGM) held on Thursday. The proposal, recommended by the board of directors and approved by the Nepal Rastra Bank, will reward shareholders with a significant return on their investment.
Strong Financial Performance in FY 2080/81
During the fiscal year 2080/81, Nabil Bank achieved an impressive net profit of NPR 6.20 billion. The bank saw a 16.41% growth in deposits, reaching NPR 468.79 billion, while loans and advances increased by 13.65%, amounting to NPR 385.72 billion.
The bank’s total assets also grew by 15.76%, reaching NPR 557.02 billion, showcasing its robust financial health and consistent growth trajectory.
Appointment of New Directors
The AGM also elected Ananta Poudyal and Praveen Tibdewal as general shareholders’ group representatives to the board of directors. Both were elected unopposed during the meeting.
Recognition and Achievements
Chairman Upendra Prasad Poudyal addressed the AGM and emphasized the bank’s commitment to institutional governance, customer satisfaction, and modernized banking services.
In recent years, Nabil Bank has achieved numerous accolades, including:
Gold Award for National Best Presented Annual Report from the Institute of Chartered Accountants of Nepal.
Merit Certificate for Best Presented Annual Report from the South Asian Federation of Accountants.
Additionally, Nabil Bank was recognized as the highest tax-paying bank in Nepal for FY 2079/80, earning the honor for the eighth time in the financial and insurance sector.
Extensive Network and Services
Nabil Bank continues to expand its services across Nepal with an extensive network of 268 branches and 320 ATMs. The bank serves over 2.4 million customers, reinforcing its position as a leading financial institution in the country.
A 960-Fold Growth in Paid-Up Capital
Since its establishment, Nabil Bank’s paid-up capital has increased by 960 times, reflecting its commitment to delivering long-term value to shareholders.
Conclusion
Nabil Bank’s decision to distribute a 10% cash dividend highlights its strong financial foundation and commitment to shareholder returns. With a proven track record of institutional governance, innovative services, and customer satisfaction, Nabil Bank continues to lead Nepal’s banking sector.
For more: Nabil Bank’s 10% Cash Dividend
