NIMB held its 37th AGM
During the fiscal year 2079/80, the bank achieved a net profit of 3.72 billion.
KATHMANDU: Nepal Investment Mega Bank Limited successfully concluded its 37th Annual General Meeting for the fiscal year 2079/80 at Nepal Pragya Pratishthan building, Kamaladi.
During the fiscal year 2079/80, the bank achieved a net profit of 3.72 billion. (Note: Due to the merger with the former Mega Bank Nepal Limited effective from 2079/09/27 the comparison of income/expenditure with the previous year is not available.)
In the fiscal year 2078/79, the combined deposits of the former Nepal Investment Bank Limited and Mega Bank Nepal Limited stood at 304.3 billion, witnessing an increase to 360 billion by the end of the fiscal year 2079/80.
Furthermore, the bank’s total loans and advances remained steady at 312 billion by the end of the fiscal year 2079/80.
In comparison, the combined total loans and advances of the former Nepal Investment Bank Limited and Mega Bank Nepal Limited in the previous fiscal year amounted to 314 billion.
The successful integration of the banks has significantly contributed to the overall growth and financial stability of Nepal Investment Mega Bank Limited.
In recent years, Nepal Rastra Bank (NRB) has supported the merger policy to reduce the number of banks.
In the fiscal year 2079/80, Nepal Investment Mega Bank Limited and Mega Bank Nepal Limited had been operating under a unified business operation in the name of Nepal Investment Mega Bank Limited since 2079/09/27.
Following the merger, the bank’s paid-up capital reached 34.13 billion, and its total shareholder equity stood at 55.60 billion.
Presently, the bank serves over 3.2 million customers through 270 branches, 267 ATMs, 16 revenue collection counters, 63 extension counters, and 46 banking correspondents. Recognized for its quality services and facilities, the bank has also been awarded the “Best Bank 2023” title by the international publication EuroMoney.
The election of executives has been postponed pending compliance with the honorable Supreme Court’s decision, while all other items presented in the general assembly have been approved/endorsed by the assembly.
