Kathmandu. The 41st Annual General Meeting (AGM) of Nabil Bank has approved a 12.50% cash dividend.

The AGM held today approved the dividend proposed for the shareholders from the profit of the fiscal year 2081/82.

The AGM has unanimously elected Mr. Anil Keshary Shah to the Board of Directors representing the promoter shareholders’ group. He is the former CEO of the bank.

The 699th meeting of the Board of Directors of the bank held today has decided to elect Nirvana Kumar Chaudhary as the Chairman of the Board of Directors of the Bank. He will take over as the chairman of Nepal Rastra Bank after taking oath of office and secrecy.

The outgoing chairman of the bank, Upendra Prasad Poudel, has successfully completed his two terms. Under his leadership, the bank has achieved remarkable achievements in sustainable banking. He was instrumental in team building, strengthening digital transformation, sustainable banking, Nabil School of Social Entrepreneurship (Nabil SSE) and making merger successful.

In the current fiscal year 2082/83, the bank has issued a new capital instrument entitled “Nabil 8% Unissued Reserve, Preference Shares” worth 5 billion (50 million units at face value of Rs 100 per share). After the issuance of the instrument, the bank believes that the capital base will be strengthened through additional primary capital, increasing the bank’s risk bearing capacity and will further support in the expansion of business.

Nabil has been providing its services through 268 branches and 321 ATMs across the country. The bank said it will continue to provide banking services to more than 25 lakh customers and join hands with all its stakeholders. Nabil Bank, which has been providing quality banking services for the past four decades, has recently launched the ‘N-Bank’ with the concept of sustainable banking.

Nabil Bank would like to express its gratitude to shareholders, regulators, customers, employees and other stakeholders for their support in conducting the AGM on time.