SBI board proposes 28% bonus share

Published On: October 3, 2016 10:23 PM NPT By: Republica  | @RepublicaNepal

KATHMANDU, Oct 3: : The 398th meeting of Nepal SBI Bank Ltd's board of directors, held Monday, has proposed distributing 28 percent bonus shares and 1.53 percent cash dividend -- for tax purpose -- out of the Rs 1.33 billion it earned in net profits last year.

"The proposal is subject to approval from the central bank and Nepal SBI's 23rd AGM," the bank said in a statement Monday.

During the year, the bank recorded an operating profit -- before possible loan loss provision -- of Rs 2.17 billion, it said.

"The bank achieved 25.01 percent growth in net profits compared to the previous fiscal year," it added.

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