ZCZC
BCN-11
NEPAL-ECONOMY-GROWTH-SBI
Nepal SBI posts 13 pc growth in net profit for FY19
Kathmandu, Dec 8, 2019 (BSS/PTI) – Nepal SBI Bank, a subsidiary of State
Bank of India, has posted a Rs 229.25 crore net profit for 2018-19,
registering a growth of 13.29 per cent.
The bank mobilised total deposit of Rs 9,792.45 crore and extended loans
and advances of Rs 8,864.47 crore at the closing of the year, according to a
statement issued by the bank ahead of its Annual General Meeting.
Speaking at a press briefing, Nepal SBI Managing Director Anukul Bhatnagar
said that the banking sector of Nepal should jointly fight against possible
cyber attack as leakage of information of one bank could jeopardize the
performance of the entire banking system.
The bank has decided to distribute 16.84 per cent bonus including 6 per
cent bonus share and 10.84 per cent cash dividends from the last year’s
profit and accumulated profits of the past, he informed.
The bank will organise its 26th AGM on December 15 in Kathmandu.
The bank succeeded in opening 76,568 new saving accounts during the last
fiscal year.
The bank will leverage its position to expand the customer base by
exploring new market segments and expanding delivery channels for its
products, the statement said.
BSS/AFP/HR/1400