Nepal Telecom services income grows by 4.49%

Nepal Telecom (NT) has witnessed growth in its income from services by 4.49 per cent. Its unaudited financial report of the last fiscal year 2014-15 shows that the company earned Rs 37.18 billion.
The state-owned company’s income during the fiscal year 2013-14 was Rs 35.58 billion from services. This means the company has managed to post growth in its income from voice and data services, even though the company provided services worth Rs 1.46 billion for free immediately after the devastating quake of April 25.
The company’s total earning, including other incomes like interest on corporate bonds, debentures, pension fund and bank deposits in the last fiscal year stood at Rs 41.18 billion and net profit has gone up by double digits of 20 per cent in the last fiscal year to Rs 13.87 billion, against Rs 11.55 billion in the previous fiscal year.
However, the state-owned company has said that its net profit is subject to change depending on the decision regarding the GSM mobile licence renewal fee.
“The liability fee, if confirmed and quantified, will result in further cost to the company and hence, net profit after tax will be reduced,” as per the financial report.
As the government was yet to fix the revised rate of licence renewal fee, NTA in fiscal year 2013-14 had renewed its GSM mobile operating licence by paying only Rs 189 million against Rs 20 billion based on the existing provision. In the last fiscal year, the company’s expenditure came down to Rs 22.27 billion, down from previous fiscal year’s Rs 24.27 billion. This is solely because of decline in expense under the licensee fee.
As per the financial report, NT’s licence fee expense stood at Rs 64.73 million in the last fiscal year, while it was at Rs 3.35 billion in the corresponding year. All of its other expenses, including staff salary, operation and maintenance, administrative costs, royalty, contribution to Rural Telecommunication Development Fund, frequency fee and interest on subscribers have gone up.- Ktmpost

Bonus Shares & Cash Dividend List for fiscal year 2071/72

SN	COMPANY	BONUS SHARE %	CASH DIVIDEND %
1 2 3 4 5 6 7 8 9 10 11 12 13 14	Business Universal Development Bank Ltd. Citizens Bank International Limited First Microfinance Development Bank Ltd. Kailash Bikas Bank Ltd. Kamana Bikas Bank Limited Narayani National Finance Co. Ltd. Nepal Bangladesh Bank Ltd. Nepal Investment Bank Ltd. Purnima Bikas Bank Limited Ridi Hydropower Dev. Company Ltd. Sanima Bank Ltd. Siddhartha Development Bank Limited Swarojgar Laghu Bitta Bikas Bank Ltd. Tinau Development Bank Ltd	13 20 15 24 22.6 18 25 33 23.27 0 20 11 30 18	0.68 0 0.79 0 1.19 7 1.32 1.74 1.37 10.52 1.05 0.58 10.00 0.94

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Tinau Development Bank announced 18% bonus shares

Tinau Development Bank Ltd has announced 18 percent bonus shares to its shareholders.
Issuing a statement, the Butwal-based development bank said that its board meeting held recently took a decision to distribute 18 percent bonus shares and 0.95 percent cash dividend for tax purpose from the profit it earned in Fiscal Year 2014/15.
The decision of the development bank, however, is subject to approval of the Nepal Rastra Bank and the upcoming annual general meeting of the bank. - Republica

Development banks licensed to operate in one-district ask NRB to lower new capital requirement

Expressing dissatisfaction over the recent decision of Nepal Rastra Bank (NRB) to increase their minimum paid-up capital requirement by 25 times, development banks licensed to operate in only one district have urged the central bank to increase their paid-up capital by only four times like other bank and financial institutions (BFIs).

Unveiling the Monetary Policy for Fiscal Year 2015/16, NRB asked BFIs to raise their minimum paid-up capital within two years. It has already directed them to present their capital plan with a clear timetable to its BFIs Regulation Department by mid-September.

While the NRB has asked commercial banks, other development banks and finance companies to raise paid-up capital by four times only, development banks operating in one to three districts have been asked to raise their paid-up capital by 25 times to Rs 500 million.

In a meeting with Meeting NRB Deputy Governor Gopal Prasad Kaphle on Friday, Development Bankers Association Nepal (DBAN) requested the central bank to revisit the decision. Bankers of development banks licensed to operate in only one district told Kaphle that it was almost impossible for them to arrange such a massive paid-up capital within two year.

"The delegation of DBAN, comprising of CEOs of 10 one-district development banks, requested the central bank to lower the paid-up capital requirement as it is difficult for them to increase the capital by 25 times," Krishna Prasad Lamichhane, president of DBAN, told Republica. "Their concern is that the capital is too high for the promoters to put in extra money while they will not be acquired or merged by other capital-starved BFIs as their low-capital will mean nothing for the partner."

According to DBAN President Lamichhane, bankers of the one-district level development banks have sought the option from the central bank to be downgraded to 'D' class micro finance if new paid-up capital requirement cannot be lowered.

According to NRB, there are 12 one-district level development banks across the country.-Republica

TOP FIVE NEPSE COMPANIES OF FISCAL YEAR 2071/2072

TOP FIVE NEPSE COMPANIES OF FISCAL YEAR 2071/2072

As of upto2015/8/13