NIC ASIA held 16th Annual General Meeting

NIC ASIA held 16th Annual General Meeting

Feb. 28, 2014, 5:45 p.m. Published in Magazine Issue: Vol: 07 No. -16 Feb. 14- 2014 (Falgun 02, 2070)

NIC ASIA’s 16th Annual General Meeting (AGM) was held at Biratnagar on February 28, 2014. It is the 1st AGM held after the commencement of the operation as NIC ASIA Bank, formed through the merger of former NIC Bank and Bank of Asia.

The AGM approved the issue of Cash Dividend of Rs. 20 per share for the year 2012-2013. Dividend shall be distributed from March 4, 2014. For the fiscal year, bank’s deposit reached to NPR.39.91 billion, lending to NPR.31.55 billion and posted a net profit of NPR. 642 million. Jagadish Prasad Agrawal,  Trilok Chandra Agrawal, Tulsiram Agrawal , Lokmanya Golcha, Ramchandra Sanghai were elected from the promoters shareholders group while, Rajendra Prasad Aryal, Birendra Kumar Sanghai and Binod Kumar Pyakurel were elected unanimously for another term from public shareholders group as directors.

According to Anuradha K.C, officer –Corporate Communication, currently, the Bank has a nationwide network of 53 branches and 57 ATMs and is in the process of opening 14 additional branches and installing an equal number of ATMs within this fiscal year. With capital base of NPR.50 billion, NIC ASIA bank has established itself as one of the top five banks amongst the commercial banks of the country.

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