Kathmandu. The 38th Annual General Meeting of Nabil Bank has ended. The assembly has approved the proposal to distribute 30 percent dividend from the profit of the last financial year as recommended by the board of directors of the bank.

The bank offered 18.5 percent bonus shares and 11.5 percent cash dividend to the shareholders from the profit of the year 2078/79. The proposal was passed by the General Assembly today. After distribution of bonus shares, the bank's paid-up capital will be over 27 billion rupees.

The General Assembly has also elected three directors from the founding shareholder group. Nirwan Chaudhary, Malay Mukherjee and ARM Najmus Shakib have been elected as directors. Nabil Bank is the bank that earned the highest profit among the private sector banks in the year 2078/79.

Recently, after the merger of Nabil and Nepal Bangladesh (NB) Bank, the number dropped to 26. After that, Kumari and Nepal Credit and Commerce (NCC) Bank merged and fell to 25.

This week, three Banks will be merged and reduced to 22. On Monday, the merger of Global IME Bank and Bank of Kathmandu (BOK) is coming to 24. The next day i.e. Tuesday, Prabhu Bank and Century Commercial Bank will merge and the number will come to 23. On Wednesday, the number of Nepal Investment Bank and Mega Bank Nepal will increase to 22.

Himalayan Bank and Civil Bank have also called the Annual General Meeting for the merger. After these institutions are merged, the number will come to 21.