May 27, 2024, Monday
Nepal 1:37:26 pm

NIMB successfully concludes its 37th AGM

The Nepal Weekly
April 9, 2024

The 37th Annual General Meeting of Nepal Investment Mega Bank (NIMB) Ltd. concluded at Nepal Academy, Kathmandu on Tuesday. NIMB has successfully earned Rs. 3.72 billion as net profit in the fiscal year 2079/080. Before the merger, during the fiscal year 2078/079 then NIMB Ltd. and Mega Bank Nepal Ltd.

The total amount of deposits of then NIMB and Mega Bank Nepal had reached Rs. 360.60 billion in the fiscal year 2079/80 before the merger, according to a statement issued by the bank. This was up by Rs. 16.97 billion as compared to previous year’s deposit of Rs. 343 billion. Similarly, the total loan disbursement in 2079/80 was Rs. 312 billion. Previous year’s combined loan disbursement of the two banks, NIMB and Mega Bank Nepal was Rs. 314 billion. The merger of NIMB and Mega Bank into NIMB happened in the month of Poush in 2079 as per the directives of the Nepal Rastra Bank. After the merger, the total paid up capital of the NIMB has reached Rs. 34.13 billion and the total shareholders fund has reached Rs. 55.40 billion. At present the bank is providing services to its 3.2 million clients through its 270 branches, 267 ATM counters, 16 revenue collection counters, 63 extension counters and 46 branch-less banks. NIMB has grabbed the Best Bank title in 2023 from international publication Euromoney through its quality services and outstanding performances. The bank has postponed its election of the board of directors during the 37th AGM honouring the Supreme Court order. However, the bank’s AGM has successfully endorsed all the agenda presented during the meeting.