Nabil Bank Limited has successfully held its 42nd Annual General Meeting where shareholders approved a 15.80 percent dividend distribution proposal.
Dividend Approval and Financial Performance
The meeting took place on Thursday at the Tribhuvan Army Officers Club in Bhadrakali, Kathmandu. Under the leadership of Chairman Nirvan Kumar Chaudhary, the bank officially approved a plan to distribute five percent bonus shares and 10.80 percent cash dividend. Additionally, the bank passed an eight percent dividend for its non-convertible preference shareholders. After the distribution of these bonus shares, the paid-up capital of the bank is expected to reach over 33 arba 40 crore rupees.
During the fiscal year 2082/83, the bank earned a net profit of 7 arba 91 crore rupees. The bank reported that its deposits increased by 13.06 percent, reaching 6 kharba 2 arba 93 crore rupees. Similarly, loans and advances grew by 12.15 percent to reach 4 kharba 76 arba 87 crore rupees. The total balance sheet size of the bank also grew by 15.38 percent, now standing at 7 kharba 34 arba 76 crore rupees. The bank noted that their paid-up capital has increased 960 times since its establishment.
Leadership and Future Vision
During the meeting, the shareholders unanimously elected Nirvan Kumar Chaudhary, Malay Mukherjee, and Sayed Mansur Mustafa as members of the Board of Directors representing the promoter shareholders. Chairman Chaudhary emphasized that the bank is prioritizing corporate governance, customer satisfaction, modernization of banking services, and social responsibility.
The bank is currently working to expand its digital services through the nBank platform and aims to become an AI-ready bank by the year 2030. Currently, Nabil Bank serves over 28 lakh customers through its network of 262 branches and 316 ATMs spread across the country.
AI Disclaimer: This article was originally published on https://bajarkochirfar.com. It has been translated with the help of AI. For the best understanding and accurate facts, we recommend reading the original Nepali version.
