14th January 2025, Kathmandu
Nepal Clearing House Ltd. (NCHL) has concluded its 13th Annual General Meeting on 12th January 2025 (28th Poush, 2081) for the fiscal year 2080/81.
NCHL 13th AGM Bonus Capital
The AGM approved the audited financials for the fiscal year and for the issuance of a 19% bonus share and 1% cash dividend for tax purposes.
After the bonus, the paid-up capital of NCHL will be NRs. 1,268,270,900, corresponding to which it has also approved to increase its authorized capital to NRs 2.25 Billion. The capital increase will be used primarily to support its investments in the National Payment Switch, additional payment systems for national and cross-border transactions, risk management systems, and enhancement of the existing infrastructures.
The net profit of the company has increased by 6.2% during the FY 2080/81, which is mainly due to the increase of over 54% of transactions through its various systems. NCHL processed a total of 126 Million transactions equivalent to a settlement value of NRs 15.6 Trillion through its clearing and settlement systems during the fiscal year.
The AGM also unanimously re-elected three members of the Board of Directors including, Mr. Ujjal R. Rajbhandary (Deputy CEO of Himalayan Bank Ltd.), Mr. Mahesh Sharma Dhakal (Senior Deputy CEO of Nepal Investment Mega Bank), and Mr. Srijan Krishna Malla (Chief Information Technology of Siddhartha Bank Ltd.) representing commercial banks.
NCHL Board is represented by a member from Nepal Rastra Bank, 3 members from commercial banks, 1 each from development banks and finance companies, and 1 independent director. NCHL’s shareholding structure includes 9.45% from Nepal Rastra Bank and 90.55% from banks and financial institutions.
Along with NCHL-ECC, NCHL-IPS, RPS, and EFT Switch systems, it has also been operating various channels including connectIPS, CORPORATEPAY, connectRTGS, National Payments Interface (NPI), and NEPALPAY QR.
It is currently implementing National Card Switch and NEPALPAY domestic cards under NPS. It has over 53 BFIs as its direct members and over 100 non-bank institutions as its indirect or technical members within its network.
For more: NCHL 13th AGM Bonus Capital
