NMB grows
NMB Bank concluded its 15th Annual General Meeting, announcing a 10 per cent cash dividend and 10 per cent bonus share to its shareholders. The Bank recorded a net profit of Rs 159.8 million during the fiscal year 2009/10. Compared to last year, the bank's deposits increased by 47 per cent and loans and advances grew by 50.32 per cent.

BOK gives
The 16th AGM of Bank of Kathmandu ended, approving a 15 per cent cash dividend and 15 per cent bonus share for its shareholders. BOK experienced a 10 per cent increase in its net profit this year, with a 12 per cent increase on its total deposits and 14 per cent on its loans and advances.

Branching out
Himalayan Bank has opened its 33rd branch at Satdobato, Lalitpur. The branch will offer full-fledged banking products and services, with interest rates up to 9.5 per cent on savings accounts and up to 11.5 per cent on fixed deposits.

Reaching Rasuwa
The newly opened commercial bank, Janata Bank, has set up its third branch in Dhunche, Rasuwa. The branch will also have an ATM counter. Janata Bank has plans to extend its network throughout the country this year.
Insurance dividends LIC (Nepal) has proposed a 5.26 per cent cash dividend to its shareholders. The rate is yet to be endorsed by Beema Samitia and the AGM of the company.

Strategic alliance
International Money Transfer (IME) and Bank of Kathmandu (BOK) have signed a contract whereby all branches of BOK will operate as representatives of IME. Remittance sent through IME can now be collected from BOK branches.

Revenue collectors
A Global Bank counter has been set up at the Passport office in Kathmandu to collect revenue. Global Bank is the fifth commercial bank that has been allowed to operate for government transactions.

Going international
NIC Bank has launched NIC International Visa Card. This card is valid worldwide and can be used for withdrawal of cash at ATMs around the world. It can also be used to make payments for purchases or hotel/service expenses through POS terminals with the Visa brand mark. People travelling abroad can also take this card against their US Dollar deposits or passport instead of carrying cash or Traveler's Cheques.