Global IME Bank 17th AGM held, and 9% dividend approved

KATHMANDU, Dec 15:The 17th Annual General Meeting of Global IME Bank was conducted in Kathmandu on Thursday.

The general meeting approved a proposal to pay a total of 9% dividend from the total earnings of fiscal year 2022/23 to shareholders in the form of an 8% cash dividend and a 1% bonus share.

The general meeting approved the annual report and integrated financial statement presented by the bank's chairman, Chandra Prasad Dhakal, on behalf of the board of directors, as well as the proposal to distribute bonus shares and cash dividends to shareholders from the bank's total profit in fiscal year 2022/23.

The bank earned an operating  profit of 12.69 billion rupees and a profit after tax of 6.69 billion rupees in fiscal year 2022/23. The bank's paid-up capital will be 36.12 billion rupees and 8.7 million rupees after the proposed bonus share distribution.

The bank's net interest income increased by 6.81 billion rupees in fiscal year 2022/23 compared to the previous year.

The bank's net profit increased by 34.99 percent year on year, reaching 6 billion 69 million rupees.

During the same time period, the bank received more than 4 trillion 39 billion rupees in deposits and invested more than 3 trillion 74 billion rupees in loans.

Dhakal, the bank's chairman, stated during the general meeting that Global IME Bank is committed to paying acceptable dividends to shareholders in accordance with the policies set by the Government of Nepal and Nepal Rastra Bank.