January 19: Out of the 28 commercial banks in the country, only 24 banks have organized their Annual General Meetings (AGMs) so far. These banks have also started distributing the dividends passed by their respective AGMs.
Out of these banks, NMB Bank has decided to distribute the highest dividend to their shareholders at 35 percent followed by Nabil Bank at 34 percent.
Four commercial banks NCC Bank, Rastriya Banijya Bank (RBB), Himalayan Bank and Century Commercial Bank are yet to hold their AGMs. Among them, NCC Bank has will hold its general meeting on January 31 and RBB will hold its meeting on February 7. Himalayan Bank has yet to call its AGM but has proposed to distribute a 22 percent dividend (12 percent cash and 10 percent bonus share) to its shareholders while Century Bank has not yet proposed anything.
Of the commercial banks, Global IME and Janata Bank have fully merged and have started joint operations from December 6, 2019 under the name Global IME Bank. Following the merger, there are now 27 commercial banks in operation in the country.