Kumari Bank Ltd's 4th quarter report of fiscal year 2071/72

Kumari Bank Limited (KBL) has earned Rs 35.27 crore during the end of the last fiscal year 2071/72. The net interest income stands at Rs 89.79 crore whereas the bank mobilizes Rs 33.42 arba in deposits and extended a loan of Rs 27.07 arba.

The bank provisioned Rs 31.47 crore for possible losses whereas it managed to write bank Rs 22.17 crore from the amount it provisioned earlier for the possible loss.The banks has non-performing loan of 2.76 % and its CD ratio stands at 74.66%.
Its EPS stands at Rs 14.51, P/E ratio at 27.23 times and net worth stands at Rs 136.5.

Kumari Bank Limited proposed 33% bonus share & 1.74% cash dividend for FY 2070/71

Kumari Bank Limited has proposed impressive 33 percent bonus share and 1.74 percent cash dividend to cover for the tax to its shareholders from the profit it posted in the last fiscal year 2070/71.

Kumari Bank endorses 14% bonus share

Kumari Bank Limited’s 13 Annual General Meeting has formally endorsed 14 percent bonus shares and 0.74 percent cash dividend to the shareholders from the net profit it posted in the last fiscal year 2069/70.

The AGM held in the capital has also elected four directors among the promoter shareholders and one public director.

Incumbent chairman Noor Pratap Rana and directors Uttam Prasad Bhattarai and Naresh Dugar have been relected to the Board of Directors from among the promoters.
Similarly, Santosh Kumar Lama has also been elected as a new director from among the promoters.

Puna Ram Bhandari has been elected as the public director.

The tenure of the promoter directors will be four years at the most and the tenure of the public director to be elected through the AGM will be three years at the most in line with the tenure of the two public directors earlier elected to the board.

Kumari Bank Limited had posted 5.82 percent growth in profit in the last fiscal year.

The bank made profits of Rs 29.15 crore, a slight growth over Rs 27.55 crore reported in the previous fiscal year.

It has also posted notable profit by the end of the third quarter

It posted 14 percent net profit by the end of the third quarter, especially from the write back of Rs 3.45 crore and non operating income of Rs 34.58 lakh though the bank’s net interest income has decreased from Rs69.36 crore to Rs 58.71 crore by the end of the third quarter.

During the AGM, the bank officials informed that they plan to mobilize Rs 29.34 arba in deposit and Rs 24.57 arba in loan by the end of the fiscal year.

The bank with 28 branches, two extension counters and 39 ATMs also plans to add eight more branches in near future. It is also building its own building at Naxal in Kathmandu.

Kumari Bank Limited had posted 5.82 percent growth in profit in the last fiscal year. -SSN

NEPSE recovers by 3.64 points to settle at 541.95 levels

Breaking its bearish rampage, Nepal Stock Exchange today made a recovery of 3.64 points to settle at 541.95 levels. Earlier, for the four consecutive trading days, the market index was galloping downside, suffering 13.69 points in total.

NEPSE at 552

Sprinting its way further up, the Nepse index crossed 550 levels to settle at 552 levels today.

As the dividend distribution and announcement season has kicked in, in the midst of an upcoming festive season, the investors are converging in market to capitalize the return provided by the listed companies.

Nepse at 547.6, loss of 4.74 points

Latest flexibility given by the Nepal Rastra Bank (NRB) to Banking and Financial Institutions (BFIs), by prolonging the deadline of meeting the paid up capital, topple the market sentiment today.

Earlier, NRB had directed the Banking and Financial Institutions through monetary policy to raise their paid up capital to the standard set by the NRB within this fiscal year end. However, recently, the NRB has revised this policy and has asked the BFIs to meet the requirement by the end of the next fiscal year.

NEPSE at 546.49, gains of 0.18 points

Finally, after days of downfall, the market was able to make an uphill move today. Though the market hovered in red for most of its trading period, coming at the end of the day, the local bourse bounced back to make a gain of 0.18 points to close at 546.49 levels.

NEPSE at 545.45, loss of 2.72 points

Streaming of investors to liquidate their position continues to skid Nepse.  The market index has been subsiding from the past three consecutive days.

Kumari Bank and Bank of Kathmandu (BOK) signed remittance pact.

Kumari Bank Limited (KBL) and Bank of Kathmandu (BOK) have signed an agreement to provide remittance service of Kumari Remit -- the remittance business of KBL.

8 banks, 40 dev. banks & 38 finance to issue bonus shares or rights shares or go for merger.

Eighty-six banks and finance institutions are still short of funds to meet the minimum capital base set by the new monetary policy of Nepal Rastra Bank.
As per the monetary policy, commercial banks must maintain a paid up capital of Rs 2 arba, national level development banks Rs 64 crore, finance companies Rs 20 crore and regional development banks should have a paid up of Rs 10 crore.

Kumari Bank, Grand Bank post profit 29.15 cr & 20.05 cr

Kumari Bank Limited posted a lowly 5.82% growth in profit for the FY 2069/70. The bank made profits of Rs 29.15 crore, a slight growth over Rs 27.55 crore reported last year.

The bank’s deposits grew 15.16% to Rs 25.31 arba and its loans and advances increased 11.15% to Rs 20.11 arba.

Big bank aren't willing to merge: Tulasi Gautam (CEO of MBL)

He said that the first thing that parties entering merger must be clear about is the objective behind the merger. In many cases there is a lack of clarity when it comes to the objective, said Gautam.

Other issues that crop up during the merger process are electing representatives on the board of directors, selecting the executive head, fixing the share swap ratio and reorganizing the staff.

Eight banks likely to issue bonus shares to meet NRB rule

Nepal Rastra Bank’s new monetary policy has given commercial banks one more year to meet the minimum paid up capital requirement of Rs 2 arba. The monetary policy leaves eight commercial banks out of 31 with two choices: either issue bonus shares or opt for merger.