Nepal Investment Bank Limited (NIBL) has endorsed the proposal to distribute 11 percent dividend to its shareholders.
The Bank’s 36th annual general meeting today took a decision to this effect. The dividend endorsed by the Bank includes four percent bonus share and seven percent cash.
The AGM also passed the proposal for a merger between the Bank and Mega Bank. They soon will launch integrated transactions following the conclusion of the merger process, it has been informed. The NIBL with Rs 19 billion market capitalisation earned Rs 6.2 billion in operational profit, and Rs 3.7 billion in net profit in the previous fiscal year, 2021/22.
Its deposit collection has slightly increased to reach at Rs 186.7 billion in the previous FY against Rs 179.4 billion in the FY, 2020/21.
Similarly, its loan floating has slightly gone up to reach at Rs 164.8 billion in the same period as compared to Rs 161.9 billion in the FY, 2020/21.