Nabil Bank AGM approves 10% cash dividend

KATHMANDU:The annual general meeting of Nabil Bank Limited approved a 10% cash dividend.

On Thursday, the bank's 40th annual general meeting approved a proposal to give a 10% cash dividend to shareholders from the accumulated profit up to fiscal year 2023/24, based on the board of directors' recommendation and Nepal Rastra Bank clearance.

In fiscal year 2023/24, the bank made a net profit of Rs 6.2 billion.

In comparison to the previous fiscal year, the bank's deposit liabilities climbed by Rs 66.1 billion, or 16.41%, to Rs 468.79 billion.

Similarly, the bank's loans and advances rose by Rs 46.32 billion, or 13.65%, to Rs 385.72 billion.

Overall, the bank's balance sheet grew by 15.76 percent in fiscal year 2023/24, reaching Rs 557.2 billion.

Similarly, Anant Paudel and Prabin Tibriwal were voted unopposed to the two director posts representing the general shareholder group on the bank's board of directors.