NIBL announces 25% Cash Dividend

Kathmandu, Sept 19, Nepal Investment Bank Limited has decided on a 25% cash dividend policy disbursing Rs. 602,274,425 to its shareholders for the fiscal year 2009/10.

A  Board-meeting held on 17th September, Friday, decided on the dividend amount, which is subject to NRB and AGM approval.

NIBL will pay a total of Rs. 180,682,326 to Rastriya Banijya Bank and Rastriya Beema Sansthan, its government stakeholders who combined own a 30% stake in Bank.

Nepal Investment Bank Limited also paid Rs. 800 million rupees to the Nepal Government coffers making it the highest tax payer among the Nepali Banks and the 5th largest amongst Nepali Corporates. Overall, NIBL will contribute around Rs. 981 million to state coffers, including the profit paid to its government shareholders.

The bank has continued its long term strategy to become the leading bank in the country by pursuing a strategy of growth and delivery of quality financial services.

The bank has achieved remarkable growth over the past 8 years. In 2002 NIBL started with total Paid up Capital of NPR 0.5 Billion and today the bank has a paid up capital of 2.4 billion, one of the largest in the country.  The bank has a deposit base of around Rs. 50 Billion.


The total assets of the bank have increased from Rs 4.9 Billion in 2002 to Rs 57 billion in this year making it the largest lender in Nepal.


NIBL has a branch network of 40 branches and 67 ATM's throughout the country. This year alone the bank extended its branches in 10 different parts of the country, while also opening 20 new ATM kiosks.

 

Thankfully,
 
Jyoti P Pandey
General Manager
Nepal Investment Bank Limited

 

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