Nabil Bank declares 12.50% cash dividend in 41st AGM; new Chair appointed
The AGM, chaired by outgoing chair Upendra Prasad Paudel, sanctioned the dividend as proposed to the shareholders.
KATHMANDU: Nabil Bank Limited’s 41st Annual General Meeting (AGM) has approved a 12.50% cash dividend for its shareholders from the profits of the fiscal year 2081/82.
The AGM, chaired by outgoing chair Upendra Prasad Paudel, sanctioned the dividend as proposed to the shareholders.
During the meeting, Anil Keshari Shah was elected unopposed as a director representing the promoter shareholders on the bank’s board.
In a subsequent board meeting—the 699th—the board appointed Nirvana Kumar Chaudhary as the new Chair of the Board. He will assume office after taking the official oath from Nepal Rastra Bank.
The bank highlighted that outgoing chairman Upendra Prasad Paudel successfully completed two terms, under which Nabil Bank achieved significant milestones in sustainable banking, team development, digital transformation, and successful mergers.
Paudel also contributed to the establishment of the Nabil School of Social Entrepreneurship (Nabil SSE).
For the current fiscal year 2082/83, the bank has issued Nabil 8% Non-Convertible Perpetual Preference Shares worth Rs 5 billion (5 million shares at Rs 100 face value). The move is expected to strengthen the bank’s capital base, enhance risk-bearing capacity, and support business expansion.
Nabil Bank currently operates 268 branches and 321 ATMs across Nepal, serving over 2.5 million customers. Emphasizing sustainable banking, the bank recently launched NBank, its digital banking platform, furthering its commitment to innovative financial solutions.
The bank expressed gratitude to shareholders, regulators, customers, employees, and all stakeholders for their support in ensuring the timely completion of the AGM.
