Mega Bank Nepal Limited’s third Annual General Meeting has formally endorsed 9 percent cash dividend to the shareholders from the net profit it earned in the last fiscal year 2069/70.
Formed in about two years ago, Mega Bank had posted an impressive net profit of Rs.17.73 in the last fiscal year.
Chairman of the bank Prof Dr Madad Kumar Dahal said that the
bank felt proud to offer dividend to the shareholders in the first year itself.
CEO of the bank Anil Keshari Shah informed that Mega Bank has been in profit ever since its inception.
The AGM of the young commercial bank held at Nepal Academy Hall also elected two directors from among the ordinary shareholders unanimously. The election was more of a formality since the shareholders had already decided to unanimously elect Chet Narayan Pandey and Dipendra Agrawal ahead of the AGM.
Mega Bank Nepal Limited had gone on to post an astounding 291 percent growth in net profit in the first quarter of the current fiscal year 2070/71.
Its net profit has surged to Rs 10.18 crore from Rs 2.60 crore in the corresponding quarter of the last fiscal year.
The profit was largely propelled by its core business as shown by its net interest income, which rose to Rs 19.54 crore in the first quarter, up from Rs 1.39 crore in the corresponding quarter.
Its annualized EPS per share stands at Rs 16.98 and net worth at Rs 118.61.
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