NIC Asia Bank holds 27th AGM, approves key financial proposals

KATHMANDU: NIC Asia Bank Limited successfully concluded its 27th Annual General Meeting (AGM) on Thursday at the Army Officers’ Club, Bhadrakali, Kathmandu.

The AGM reviewed and approved the Board of Directors’ report, the auditor’s report, and the financial statements, including the balance sheet, profit and loss account, and cash flow statement for the fiscal year 2080/81.

Additionally, amendments and updates to the bank’s Articles of Association and regulations were endorsed.

Furthermore, as per the board’s proposal and subject to regulatory approvals, the AGM approved the issuance of Rs 5 billion worth of NIC Asia Perpetual Non-Cumulative Preference Shares at Rs 100 per share.