Nabil Bank AGM Approves 15.80% Dividend for FY 2082/83

Nabil Bank Limited (NABIL) has approved a total dividend of 15.80% for its ordinary shareholders for the fiscal year 2082/83 through its 42nd Annual General Meeting (AGM). The approved dividend consists of 5% bonus shares and 10.80% cash dividend. The AGM was held on Thursday at the Tribhuvan Army Officers Club in Bhadrakali, Kathmandu. The meeting also approved an 8% dividend for holders of the bank’s irredeemable non-cumulative preference shares. Following the distribution of bonus shares, the bank’s paid-up capital is expected to exceed Rs. 33.40 billion. For FY 2082/83, Nabil Bank reported a net profit of Rs. 7.91 billion. The bank’s deposit collection increased by 13.06% to Rs. 602.93 billion, while loans and advances grew by 12.15% to Rs. 476.87 billion. Similarly, its total assets increased by 15.38% to Rs. 734.76 billion. The AGM also elected Nirvana Kumar Chaudhary, Malay Mukherjee, and Syed Mansur Mustafa as directors representing the promoter shareholders.