Prime Commercial Bank Ltd proposed 10% bonus shares & 5% cash dividend.

Prime Commercial Bank Limited has proposed 15 percent dividend -- 10 bonus shares and 5 percent cash – to its shareholders from the net profit it earned in the last fiscal year of 2069/70.

A meeting of the commercial bank’s Board of Directors took the decision to this effect.

However, it may be noted here that the offered dividend must be approved by the Nepal Rastra Bank and the upcoming Annual General Meeting of the commercial bank.

The commercial bank had posted a hefty growth in profit in the fiscal year of 2069/70 — a 78.06 percent rise compared to the net profit it made in the previous fiscal year of 2068/69.

The bank earned a profit of Rs 47.97 crore in the last fiscal year as against Rs 26.94 crore reported in the previous fiscal year.

The bank’s nonperforming assets (NPA), however, rose by an alarming 193.42 percent, from 0.76 percent in the previous fiscal to 2.23 this year.

The bank’s deposits increased 20 percent to Rs 28.81 arba. Likewise, its loans and advances grew 12.24 percent to Rs 21.21 arba.
-sharesansar