Himalayan Bank's expansion plans

Himalayan Bank plans to install 10 ATM terminals and three branches in the next seven months of the current fiscal year. The bank has already established three branches with an ATM each at Gorkha and at Satdobato and Kalanki in Kathmandu. Currently, the bank has 33 branches and 53 ATM terminals across the country. The bank further plans to issue EMV debit and credit cards soon. Similarly, the 18th annual general meeting (AGM) of Himalayan Bank on Wednesday endorsed issuing 11.84 percent cash dividend and 25 percent bonus shares to its shareholders. Following the distribution of 25 percent bonus amounting to Rs 783.78 million, the bank's paid-up capital will reach Rs 2 billion.

The bank posted a net profit of Rs 508.79 million in 2009-10. During the review period, the bank's deposit base and lending portfolio amounted to Rs 37.61 billion and Rs 29.12 billion respectively. The deposit base and lending portfolio have witnessed a growth of 8.44 percent and 14.12 percent respectively against the previous fiscal year. However, the bank's non-performing loans in the review period have gone up to 3.52 percent, which it plans to lower to 3 percent during 2010-11. Meanwhile, the deposit base and lending portfolio have climbed to Rs 39.46 billion and Rs 32.53 billion respectively in the first five months of the current fiscal year. Likewise, the operating profit reached Rs 574.85 million.

Source:
ekantipur