NIBL’s operating profit stands at Rs 5.24 billion this fiscal

Nepal Investment Bank (NIBL) has successfully held its 31st Annual General Meeting for the fiscal year 2073-74 on October 24 in Kathmandu. The AGM highlighted the bank’s major achievements in the fiscal year, future plans, performance targets and strategies. The bank has proposed 15% stock dividend and 25% cash dividend on its total paid up capital to shareholders. During the year, NIBL earned an operating profit of Rs 5.24 billion before provision as compared to previous year’s 4.13 billion. The net profit of the bank grew by 22.1% to reach Rs 3.11 billion against Rs 2.55 billion in the previous year. NIBL Paid Up capital will reach Rs 10.62 billion (after issue of 15% bonus share in FY 2073-2074). In this FY, NIBL’s deposits have increased by 15.7 percent, reaching Rs 125.66 billion. Total lending of the bank increased by 22.6 percent reaching Rs 106.68 billion. The bank has a customer base of more than 836,000 being served from a network of 61 branches, 99 ATMs and 4 extension counters nationwide. To provide enhanced customer service to more than 836,000 customers, Nepal Investment Bank jointly with Nepal Electricity Authority has agreed to make all payments of Nepal Electricity Authority bills through any NIBL branches and online banking services from this year. The Bank had also recently added Mastercard into its network in both ATM and POS to provide enhanced service to its cardholders.