KATHMANDU, Oct 5: The 19th Annual General Meeting (AGM) of NIC Asia Bank Ltd, chaired by its Chairman Jagadish Prasad Agrawal, has approved a proposal to distribute 26 percent bonus shares and 1.37 cash divided (for tax purpose) to the bank's shareholders from the profit earned in Fiscal Year 2072/73 and 1.37 percent cash dividend for tax purpose.

The AGM also approved a proposal to launch 15 percent rights issue after the distribution of bonus shares.

Issuing a statement, the bank said that despite the unfavorable situation, the bank has posted growth of 37 percent on total loan and advances and 27 percent and 57 percent growth on gross operating and net profit of Rs 1.56 billion and Rs 1.07 billion, resulting a 11 percent growth compared to last year.

"With the aim to making baking service more accessible, the bank has unveiled plan to open 40 new branch offices and ATM counters in the current fiscal year," the statement added.

 
• 19th annual general meeting
 
• nic asia bank ltd
 
• 26% bonus shares
 
• 1.37 cash dividend