Nepal Clearing House Ltd. concluded its 8th Annual General Meeting on November 11 at Hotel Crown Imperial, Kathmandu. The AGM decided to increase the paid-up capital of the company to Rs 298,080,000 from Rs 216,000,000 through issuance of 38% bonus share from the profit earned during the fiscal year 2075/76. It also decided to provide 2% cash dividend to cover the tax provision. Authorized capital of the company has also been decided to increase to Rs 500,000,000. The company booked a net profit of Rs 237,735,786 for the fiscal year 2075/76.
The company intends to increase its capital to further re-invest into payment infrastructures, add new products and services and to enhance risk management. As per NRB’s regulatory requirement, payment system operator (PSO) needs to have minimum of Rs 100,000,000 as paid-up capital for operations within Nepal, whereas it is Rs 250,000,000 for those handling international payments.
During the fiscal year 2075/76, the company processed a total of 11,755,072 cheques through NCHL-ECC system; 4,931,950 transactions through NCHL-IPS system; and 186,041 transactions through connect IPS e-Payment system. The total settlement value of the transactions processed through NCHL systems during the fiscal year remained at Rs 9.2 Trillions. It handled daily average transactions of over 67,479 equivalents to Rs 36.85 Billions on daily settlement value. There are almost 80 banks and financial institutions as its direct members with access to over 5,003 bank branches within NCHL’s system network. NCHL has also enrolled over 22 non-bank institutions as indirect/technical members.
