Nepal Investment Bank Limited (NIBL) has successfully conducted its 36th Annual General Meeting (AGM) for the fiscal year (FY) 2078-2079 at Nepal Pragya Pratisthan Bhawan, Kamaladi, Kathmandu. The Bank’s Chairman Prithivi Bahadur Pandé chaired the meeting and informed all the stakeholders of the Bank’s decision to distribute 11% dividend (4% bonus shares and 7% cash dividend). During the year, NIBL earned an operating profit of NPR 6.28 billion. The net profit of the Bank for FY 2078/79 stood at NPR 3.79 billion with the paid-up capital to reach NPR 19.30 billion (after Bonus Share of FY 2078/79).
In the FY 2078/79, NIBL’s deposits have increased to NPR 186.76 billion from the previous year’s NPR 179.40 billion. Similarly, the total lending has reached NPR 164.82 billion compared to NPR 161.91 billion in the previous year. The Annual General Meeting of NIBL approved a merger with Mega Bank Nepal Ltd. and would be starting joint operations as a merged entity very soon.
NIBL has been catering to its customer from 88 branches, 131 ATMs, 23 Extension Counters, 10 Revenue Collection Counters and 59 Branchless Banking Counters. The bank, being the six-time recipient of “Bank of the Year” awards for exemplary service and business by the Banker Magazine published by Financial Times and was accredited with Euromoney awards for “Best Bank 2018” and “Best Bank 2021” from the international publication - Euromoney. Further, ICRA Nepal (International Credit Rating Agency- Nepal) has given the bank a credit rating of A.