NIC ASIA Bank completed 19th Annual General Meeting

NIC ASIA Bank completed 19th Annual General Meeting

Oct. 5, 2016, 5:45 p.m. Published in Magazine Issue: Vol 10, No 5, October 7 (Asoj 21, 2073)

NIC ASIA Bank has successfully completed 19th Annual General Meeting Chaired by Bank’s Chairman Mr. Jagadish Prasad Agrawal in Kathmandu today, i.e. 04th October 2016.

The AGM has approved the statement of accounts, Balance Sheet, Profit and Loss Account and other details of FY 2072/73 as recommended by the Board of the Bank. The AGM has also approved 26% Bonus Share to the shareholder from the profit of FY 2072/73 and 1.37% cash dividend for tax purpose  and also15% rights share to the share holder after the distribution of bonus share as a special agenda of the meeting along with all other proposals that were proposed to the AGM.

Despite the unfavorable situation Bank has posted growth of 37% on total Loan & Advances and 27% & 57% growth on gross operating and net profit of NPR 1.56 Bn & NPR 1.07 Bn respectively on FY 2072/73, resulting 11% growth of NPR 28.31 comparing with last year’s NPR 25.59.

“With the aim to make easy access on baking system the Bank has expansion plan to open 40 new branches and ATM counter on rural and urban area within this Fiscal Year. Bank has also announced paperless banking and plantation of 7000 trees within this fiscal year as an a green initiative under Corporate Social Responsibility,” said a press release issued by Bhanu Dabadi, Head- Corporate Communication and Branding.

 

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