NIBL says is 1st private bank to meet minimum paid-up capital requisite

Published On: August 22, 2016 10:00 PM NPT By: Republica  | @RepublicaNepal

KATHMANDU, Aug 22: The 462nd board meeting of Nepal Investment Bank Ltd (NIBL) has proposed to distribute 20 percent stock dividend and 21 percent cash dividend to the bank's shareholders from the profit earned in Fiscal Year 2015/16.

"This is subjected to approval from the Nepal Rastra Bank and the bank's upcoming Annual General Meeting," the bank said in a statement.

"NIBL will become the first private sector commercial bank in Nepal to comply with Nepal Rastra Bank's minimum paid-up capital requirement of Rs 8.7 billion."

NIBL has a customer base of more than 700,000 being served from 46 branches and 47 branchless banking locations nationwide, according to the statement.

The bank has 82 ATM terminals across the country and over 5,50,000 cardholders.

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