The 18th Annual General Meeting (AGM) of Bank of Kathmandu Ltd. was held today. The AGM has approved 5 percent Bonus Share and 21.32 percent Cash Dividend to its valued Shareholders.
While highlighting the Bank’s overall progress in the Fiscal year 2068/069, Chairman of the Bank, Mr. Narendra Kumar Basnyat stated that the bank has managed to earn Operating Profit of 883 million out of which Net Profit stood at 607.7 million in the fiscal year. The total deposits at the end of the fiscal year 2068/069 summed to 24.99 billion, an increment of 18.90 percent in comparison to corresponding figure of last fiscal year. Similarly, loans and advances increased by 7.59 percent at the end of the fiscal year 2068/069 with total lending of 19.32 billion. He further added that the Bank managed this achievement in spite of the unfavorable economic condition. Chairman Basnyat also mentioned that the Bank is determined to continuously improve the risk management and operational procedure, revision of internal policies & guidelines and reiterated the bank’s ability to fulfill the commitment of the bank in every sector in a sustainable manner.
During this period the Bank also added 4 new branches which put the total number of its branches at 45. Moreover, the bank also runs 7 extension counters throughout the country. Apart from this, the customers can utilize the facility of its network from 54 ATM counters. During the FY the bank introduced attractive new products and services catering to different segments of customers and was actively involved in microfinance projects in various parts of the country, thus improving the microfinance business. During this year, the Bank also achieved the minimum capital requirement to be attained within Asadh 2070 as prescribed in the policy guidelines and Directives of Nepal Rastra Bank.
Bank of Kathmandu Ltd. earlier received the prestigious ‘Bank of the Year 2011- Nepal’ award from The Banker -Financial Times London. The award was announced by Financial Times during its annual award hosting ceremony on 30th November 2011.
The bank is vigorously looking forward to providing new and modern facilities to its valued customers by applying innovative banking techniques for the overall progress and the growth of the bank. The Bank aims to improve the SME loans, increase the service networking, improve corporate relationships, add more facilities and services increase its customer base and adopt new approaches to be able to address challenges in a very competitive environment.
|As on March 10, 2014|