NMB Bank Limited could endorse only ten percent dividend to the
shareholders during its AGM yesterday though it had pledged 15 percent
cash dividend from the net profit it bank earned in the last fiscal year
2069/70.NMB could not pledge 15 percent dividend after the central bank asked the commercial bank not to include Rs 10 crore invested in NMC Capital Limited, a subsidiary of the bank, and to keep that sum aside in an investment adjustment fund.
NMB officials are holding talks with the central bank to review its decision, and if the central bank reviews the decision then it will given additional five percent dividend to the shareholders, according to the bank sources.
NMB Bank has posted extraordinary growth in profit in the last fiscal year.
Its profit had risen by an astounding 488.71 percent with total earning for the last fiscal year 2069/70 amounting to Rs 36.66 crore. The bank had reported a profit of Rs 6.22 crore in the previous fiscal year.
The commercial bank had posted a slight growth of 0.77 percent in its net profit in the first quarter of the current fiscal year 2070/71.
An unaudited report for the first quarter of the commercial bank published last month shows that the bank earned a net profit of Rs 9.08 crore in the first quarter, down from Rs 9.01 crore in the corresponding quarter of the last fiscal year.
NMB Bank has also posted an operational profit of Rs 12.2 crore in the first quarter compared to Rs 11.84 crore in the corresponding quarter.
It also mobilized Rs 20.01 arba in deposit and Rs 16.18 arba in loan in the first quarter, up from 15.96 arba in deposit and Rs 14.29 arba in loan in the first quarter last year.
Its non performing loan has also dropped from 2.19 percent to 1.83 percent.
NMB Bank’s net worth per share stands at Rs 144.91 and its EPS (annualized) at Rs 18.16.-SSN
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