NIC Asia Bank concludes 26th AGM

KATHMANDU: The 26th Annual General Meeting (AGM) of NIC Asia Bank Limited was held at the Army Officers Club in Bhadrakali, Kathmandu on Sunday.

The general meeting approved 29 percent of the bank’s paid-up capital from the profits and accumulated profits of the last fiscal year 2079/80 (Rs. 350,356,156) and 1.5263 percent cash dividend for tax purposes (Rs. 176,503,240) has approved the proposal to distribute a total of 30.5263 percent dividend (Rs. 3,53,64,796).

After the 26th Annual General Meeting of the bank passed 29 percent bonus shares, the total paid-up capital of the bank has reached Rs. 14,91,75,66,922.

Furthermore, the assembly discussed and approved the board of directors’ report for fiscal year 2079/80, the auditor’s report, which included the balance sheet up to the end of 2080, the profit and loss account, and the cash flow statement, as well as a proposal to amend the bank’s charter and regulations.

NIC Asia Bank is one of the banks in the country with the most banking networks.

Across the country, this bank has expanded 360 branch offices, 631 ATMs, 110 extended counters, and 61 branchless branch networks.