29th NIBL AGM Held

29th NIBL AGM Held

Nov. 16, 2015, 5:45 p.m. Published in Magazine Issue: Vol.09, No-9, November 6, 2015 (Kartik 20, 2072)

Nepal Investment Bank Ltd (NIBL) has held its 29th annual General meeting (AGM) for the fiscal year 2014-015. The AGM highlighted the bank’s major achievements in the fiscal future plans, performance targets and strategies.

According to a press release, in the fiscal year 2014-015, NIBL, earned operating profit of Rs.3.11 billion before provision compared to previous year’s 3.16 billion. The net profit of the bank grew b 1.1 percent to Rs. 1.96 billion of previous years.

NIBL paid up capital reached Rs 6.34 billion after 33 percent bonus share proposed in fiscal year 2014-15. NIBL capital base reached 9.80 billion. In fiscal year 2014-15, the bank’s deposits increased by 22.8 percent, reaching Rs.90.63 billion. Total lending of the bank increased by 26.6 percent to Rs.67.69 billion. Due to recovery of non-performing loans (NPAs) during the year, NPA ratio of the bank declined to 1.25 percent against 1.77 percent last year.

The bank’s future endeavors include extending financial support for restoration of national heritage sites that have been destroyed by the devastating quake and subsequent powerful aftershocks. The AGM was chaired by Chairman of NIBL Prithvi Bahadur Pande. 

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