NIC ASIA Bank Announces 30 percent Dividend

NIC ASIA Bank Announces 30 percent Dividend

Nov. 2, 2014, 5:45 p.m. Published in Magazine Issue: Vol: 08 No. -9 October. 18- 2014 (Kartik 01, 2071)

NIC ASIA Bank’s Board at its meeting held today has decided to recommend a dividend of Rs. 30 per share (15% Cash and 15% Stock) for the year 2013/14, subject to approval of Nepal  Rastra Bank and the Bank’s Annual General Meeting.

In spite of extremely challenging market conditions, the Bank posted a Net Profit of Rs. 832 million last year which was also the first year of operation after the historic merger of Bank of Asia Nepal with NIC Bank. The Earnings per Share (EPS) and Return on Equity (ROE) for the year are Rs. 35.98 and 15.93%, respectively.

"The Bank has posted an Operating Profit of Rs.322 million in the first quarter of the current fiscal year with total deposits and loans of NPR 47.88 billion and NPR 38.52 billion, respectively. Currently, the Bank has a nationwide branch network of 66 branches, 1 extension counter and 61 ATMs," said a press release issued by Neekita Ghimire, CCO of NIC Asia Bank.

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