Nepal Investment Bank has decided to extend five per cent cash dividend (Rs 150.64 million) and 25 per cent stock dividend (Rs 753.23 million) from the profits of last fiscal year.

The decision was approved during the 26^th Annual General Meeting (AGM) of the bank.

During the year, the bank managed to expand its total assets by 12.7 percent to Rs 65.75 billion. The total deposits and lending of the bank also grew by 13.7 percent and 2.4 percent, respectively, to reach Rs 57.01 billion and Rs 42.90 billion during the period.

The bank has a paid-up capital of more than Rs 3.76 billion, including proposed bonus shares. Likewise, it posted a growth of 40.6 per cent to reach Rs 10.64 billion in total investments.  

NIBL is also planning to start a micro-finance company. “NIBL is awaiting approval from Nepal Rastra Bank (NRB) to set up a microfinance company,” said chief executive of the bank Jyoti Prakash Pandey.

(Agencies)