Nabil Bank declares 10% cash dividend at 40th AGM

KATHMANDU: Nabil Bank Limited has declared a 10% cash dividend.

The decision was made during the bank’s 40th Annual General Meeting (AGM), held on Thursday, under the chairmanship of Bank Chair Upendra Prasad Poudel.

The AGM approved the distribution of a 10% cash dividend to shareholders from the accumulated profit of the fiscal year 2080/81, following the recommendation of the Board of Directors and approval from Nepal Rastra Bank.

The bank reported a net profit of Rs 6.2 billion for the review year 2080/81.

In comparison to the previous fiscal year, the bank’s deposit liabilities increased by 16.41%, amounting to Rs 466.79 billion. Similarly, loans and advances rose by 13.65%, reaching Rs 385.72 billion.

As a result, the bank’s total assets for the fiscal year 2080/81 grew by 15.76%, reaching Rs 557.02 billion.

Additionally, the AGM saw the uncontested election of Anant Paudyal and Pravin Tiwari to the Board of Directors, representing the ordinary shareholder group.

In his address, Chair Poudel emphasized that the bank continues to prioritize institutional governance and customer satisfaction while modernizing and expanding its banking services.

He noted that Nabil Bank has been committed to acting with care and balance, respecting the rights and interests of various stakeholders, including the society, shareholders, customers, regulatory bodies, and employees. He also highlighted the bank’s active role in corporate social responsibility.

Reflecting on the growth of Nabil Bank, Chairman Poudel stated that considering the cash dividends distributed in previous years, market capitalization, and capital increase, the bank’s paid-up capital has grown by 960 times since its establishment

. This achievement underscores Nabil Bank’s continuous position as a leading commercial bank in Nepal among Class ‘A’ banks.

Nabil Bank has received numerous national and international awards, further validating its excellence and commitment. Last year, the bank received the National Best Presented Annual Report (Gold Award) from the Institute of Chartered Accountants of Nepal, and the Merit Certificate (Best Presented Annual Report) from the South Asian Federation of Accountants.

Additionally, Nabil Bank was recognized as the highest tax-paying bank for the fiscal year 2079/80, marking the eighth time it has received this honor in the financial institutions and insurance sector.

With a network of 268 branches and 320 ATMs across the country, Nabil Bank serves more than 2.4 million customers. The bank is committed to progressing with all stakeholders, emphasizing its belief in collaborative growth.

Nabil Bank, which has been providing quality banking services for over four decades, has recently embraced the concept of sustainable banking and launched NBank for digital banking services.

The Nabil Bank family expressed gratitude to shareholders, regulatory bodies, customers, employees, and other affiliated entities for their cooperation in ensuring the timely completion of the AGM.