Nepal Investment Bank becomes the largest bank in terms of paid up capital

Nepal Investment Bank Ltd (NIBL) has become the largest bank in terms of paid up capital.

The bank's capital base reached Rs 4.14 billion – after today's 27^th AGM's approval of 10 per cent bonus share proposed for the fiscal year 2012-13 –  which is the highest capital base amongst the private sector banks in the country, the bank said, adding that the capital base is more than twice the minimum capital base prescribed by the central bank.

The bank had earned Rs 3.10 billion operating profit – before provision compared to a fiscal year ago’s Rs 2.10 billion – in the fiscal year 2012-13, it said, adding that the net profit also grew by 84.3 per cent – by Rs 875.75 million – to reach Rs 1.91 billion against a year ago's Rs 1.03 billion.

The board of directors had proposed 10 per cent bonus share (Rs 376.80 million) and 25 per cent cash dividend (Rs 942 million) from the net profit of last fiscal year, when the deposits increased by 9.5 per cent to Rs 62.42 billion, against a fiscal year ago’s Rs 57.01 billion. "Similarly, total lending of the bank also grew by 11.2 per cent to Rs 47.70 billion from a fiscal year ago’s Rs 42.90 billion.

The bank has also reduced it non-performing loans (NPAs) to 1.91 per cent from 3.32 per cent a year ago.

With 500,000 customers across the country and 44 branches and 73 ATM networks, Nepal Investment bank has also been rated 'A' grade by the Indian Credit Rating Agency (ICRA) – for last four years – that reflects the bank's strong creditworthiness and dependability as the leading bank in Nepal.