Manoj Bahadur Shrestha, Chairman of the Bank, presented the Bank's Annual Report for the fiscal year 2012/13. Presenting the report on behalf of the Board of Directors, Chairman Shrestha stated with satisfaction that during the period under review the Bank was able to carry on its activities and operations satisfactorily and the Bank has established its identity as a pioneer bank in the financial sector of the country.
Chairman Shrestha highlighted that the Bank’s total deposit reached Rs. 53.072 billion during the period under review, recording an increase of 11.19 percent over the previous year. Similarly, the loans and advances reached Rs. 41.057 billion recording an increase of 14.15 percent. The Bank has been able to earn an operating profit of Rs.1, 145.974 million during the review period. Net profit of the Bank reached Rs. 943.698 million. The AGM has declared 5 percent bonus share and 10 percent cash dividend on the paid-up capital to the shareholders. After issuance of the bonus shares Bank’s paid-up capital will be Rs. 2.898 billion.
During the period under review the Bank has opened 2 new branches and 5 ATMs in different locations, making a total number of 41 branches and 77 ATMs all over the country. In the current Fiscal Year the Bank is planning to establish at least 4 new branches in various parts of the country and deploy 10 ATMs in different locations. Similarly the Bank is in the process of promoting its remittance services said Chairman Shrestha.