Nepal Infrastructure Bank holds 4th AGM

KATHMANDU: Nepal Infrastructure Bank (NIFRA) held the fourth annual general meeting (AGM) with significant participation of shareholders, on November 26. Anuj Agarwal, Chairman of the bank's Board of Directors, chaired the AGM held at Anupam Foodland and Banquet, Battisputli, Kathmandu. Members of the bank's board of directors Kedarnath Sharma, Chandra Prasad Dhakal,  Lalmani Joshi, Shankar Prasad Adhikari, Suman Pokharel, Lima Adhikari Acharya and the bank's CEO  Rama Krishna Khatiwada were present on the occasion. The AGM passed the proposal to approve the report of the board of directors with financial statements for the fiscal year 2021/22 and the proposal to appoint an auditor for the financial year 2022/23. The AGM also passed the proposal to distribute cash dividends (including dividend tax) amounting to 4.2105% of the bank's paid-up capital of Rs 21.6 billion and the proposal to amend the bank's charter and regulations. This bank, established with the objective of increasing access to investment in infrastructure projects of the country by collecting long-term resources from domestic and foreign financial markets, is currently in its fourth year of operation. By the end of the fiscal year 2021/22, the bank approved a loan of Rs 32.89 billion and disbursed a loan of Rs 15.58 billion and during the same period, the bank has managed to earn a net profit of Rs 1.02 billion. The bank has adopted practices of building strong and long-term infrastructures in the country and has been involved in business activities in accordance with its four-year strategic plan making public and private sector cooperation and investment promotion as the key agenda. READ ALSO:

• Nepal Lube Oil holds 31st AGM
• Oriental Hotels holds 25th AGM
• NIC Asia Capital concludes 6th AGM
• CIT concludes 27th AGM, plans to diversify investments in productive sectors