Kathmandu / Nepal Investment Bank Limited (NIBL) has held its 35th Annual General Meeting on December 3 at its Central Office, Durbar Marg, Kathmandu.

The bank had convened a general meeting virtually considering the epidemic situation.

The meeting discussed the major achievements of the bank in the fiscal year 2077/78, future plans, performance goals and strategies, the bank said.

Chairman of the bank Prithvi Bahadur Pandey, who is presiding over the meeting, informed that 16 percent of the total dividend will be distributed at the meeting of the board of directors.

According to him, 12.611 percent dividend (bonus share) and 3.389 percent cash dividend of the total paid up capital of the bank will be paid.

The bank has managed to earn an operating profit of Rs 5.11 billion this year. The net profit of the bank has reached Rs. 3.55 billion in the fiscal year 2077/78 while the total paid up capital of the bank has reached Rs. 18.30 billion.

In FY 2077/78, the bank's deposits increased to Rs. 168 billion to Rs. 179 billion. Similarly, the total investment was Rs. 140 billion to Rs. 162 billion.

Nepal Investment Bank has been serving its customers through 88 branches, 131 ATMs, 20 extension counters, 10 revenue collection counters and 58 branchless banking counters.

The bank, which has won the Bank of the Year award five times from the Financial Times, has also been awarded the 'Best Bank 2018' and the 'Best Bank 2021' Euromoney Award for exemplary service and business from the international publication - Euromoney.

In addition, ICRA Nepal (International Credit Rating Agency-Nepal) has given the bank an 'A' class credit rating.