NIBL concludes 36th AGM

KATHMANDU: Nepal Investment Bank Limited (NIBL) concluded its 36th annual general meeting (AGM) for the fiscal year  2021/22. NIBL Chairman Prithivi Bahadur Pandé chaired the meeting and apprised all the stakeholders of the bank’s decision to distribute 11% dividend (4% bonus shares and 7% cash dividend).  During the year, NIBL earned an operating profit of Rs 6.28 billion. The net profit of the bank for FY 2021/22 stood at Rs 3.79 billion with the paid-up capital reaching Rs 19.03 billion (after Bonus Share of FY 2021/22). In FY 2021/22, NIBL’s deposits have increased to Rs 186.76 billion from the previous year’s Rs 179.40 billion. Similarly, the total lending has reached Rs 164.82 billion compared to Rs 161.91 billion in the previous year. The AGM of NIBL held in Kathmandu approved a merger with Mega Bank Nepal. The bank will start joint operations as a merged entity soon. NIBL has been catering to its customer from 88 branches, 131 ATMs, 23 extension counters, 10 revenue collection counters and 59 branchless banking counters.  NIBL is the six-time recipient of 'Bank of the Year' awards for exemplary service and business by the Banker Magazine published by Financial Times and was accredited with Euromoney awards for “Best Bank 2018” and “Best Bank 2021” from the international publication — Euromoney. Further, ICRA Nepal (International Credit Rating Agency- Nepal) has given the bank a credit rating of A. READ ALSO:

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