Commercial Banks are preparing to declare dividends, How Much ?

Sep Mon 2022 04:25:59

171 views

Commercial Banks are preparing to declare dividends, How Much ?

Kathmandu. Half a dozen commercial banks have prepared to declare dividends. Half a dozen commercial banks have submitted financial statements to Nepal Rastra Bank for dividend declaration. Due to some technical problems, the approval of the financial statements of those banks has been delayed, and now it is understood that they are preparing to announce the dividend within some time.

According to Narayan Pokharel, co-spokesperson of Rashtra Bank, the financial statements of 8 commercial banks have been submitted to Rashtra Bank.

According to Rashtra Bank sources, the financial statements of NIC Asia, Sunrise, Global IME, Bank of Kathmandu, Siddharth, Citizens, Mega and Kumari Bank have reached Rashtra Bank. However, sources say that there was some delay in approving the financial statements of these banks due to some technical problems.

If the Nepal Rastra Bank does not impose any restrictions on the financial statements of the banks, the banks can distribute dividends as much as they want. However, the shareholders get the dividend only after the dividend proposed by the banks is approved by the Nepal Rastra Bank and passed by the Annual General Meeting. After the Nepal Rastra Bank approves the distribution of dividends, the bank has to call the annual general meeting 21 days in advance.

Among the banks that have submitted financial statements based on the profit of the last financial year, NIC Asia has 33 percent, Sunrise 14.46 percent, Global IME 13.45 percent, Bank of Kathmandu 12.25 percent, Siddharth 16.82 percent, Citizens 11.24 percent, Mega 11.44 and Kumari Bank is seen to be able to distribute 12.66 percent dividend.