7.37% Cash Dividend of Bank Of Asia Nepal Ltd.

The 81th BOD meeting of Bank Of Asia Nepal Ltd dated 2068/7/6 has decided to provide 7.37% cash dividend to its share holders from the porfit of fiscal year 2067/068. The porposed dividend is subject ot approval from NRB and its upcoming AGM

Source:
Nepse News.

Commercial banks' Q2 NPA almost doubles

The Non-Performing Assets (NPA) of commercial banks seem to have almost doubled in the second quarter of the current fiscal year. According to the unaudited financial figures of the second quarter of the current fiscal year, the average ratio of NPA to the performing loans in the second quarter of the current fiscal year is at 0.88 per cent which was 0.48 per cent in the corresponding quarter of the previous fiscal year.

The slowdown in realty and housing sector can be accounted for the surge in NPA of the commercial banks this season. The bankers have been suggesting the central bank Nepal Rastra Bank (NRB) to relax the ceiling on housing and real estate lending, citing the slowdown in realty to have affected the performance of banks as most of the commercial banks' loan portfolio is dominated by these sectors.

Among the unaudited financial statements released by the twelve commercial banks Bank of Asia Nepal (BoAN), Kumari Bank Ltd (KBL), Kist Bank Ltd (KIST), Siddhartha Bank Ltd (SBL), Global Bank Ltd (GBL), Laxmi Bank Ltd (LBL), Citizens International Bank Ltd (CZBL) and Prime Bank Ltd (PBL) are the commercial banks expected to report an increased NPA for the second quarter in comparison to that of corresponding quarter in the previous fiscal year. Standard Chartered Bank (SCBL), Nepal SBI Bank (SBI) and DCBL Bank Ltd (DCBL) are expected to report a drop in NPA in the review.

NPAs are one of the key indicators that gauge the financial strength of any bank or financial institution. NPAs for banks are nothing but loans gone sour. It is a loan that can not be recovered from the customer within stipulated time, especially those exceeding 90 days of the predetermined period. The NPA does not yield any income to the banks in the form of principal and interest payments. NPAs eat into the income of the financial institutions as the primary source of income of financial institutions are the interest payments by borrowers.

Source:
tht

Bank of Asia Held 2nd AGM

Bank of Asia Nepal has held its second annual general meeting on 4th January 2010 (2066 Poush 20). The AGM has approved the proposal to distribute five percent cash dividend and 2:1 right shares to its shareholders.

Issuing a press statement on Tuesday, the bank said it also decided to appoint Him Bahadur Rawal and Binod Kumar Pyakurel as board members from the ordinary shareholders.

Source:
Jamb News Service

Sunrise, Bank of Asia enter third year

Two years ago, on this very day, the 22nd and 23rd commercial banks — Bank of Asia Nepal and Sunrise Bank began their operations. Sunrise Bank started with the aim of becoming one of the leading banks by 2012. "It has expanded its reach and added 24 branches in two years," said Sunrise Bank's acting chief executive officer Suman Neupane. Kishore Maharjan led the bank for two years before resigning last week. T M Duggar group is one of the promoters of Sunrise Bank.

NEPSE continues falling

Kantipur Report
KATHMANDU, Sept 6 - The bearish trend in the capital market continued last week with the Nepal Stock Exchange (NEPSE) index coming down by 10.75 points.
The NEPSE index was 671.15 points in the first day of trading on Sunday which came down to 660.40 points in the final day of trading on Wednesday. The shares were not traded on Thursday since it was a public holiday.
Indices of most of the groups saw a decline last week with the hydropower group leading the downfall by 16.02 points. After that the group comprising commercial banks saw a decline of 12.97 points followed by the group comprising finance companies with 9.31.
The group comprising development banks witnessed a fall of 9.17 points and the group categorised as others saw a decline of 8.23 points. The index of insurance group also went down by 4.62 points followed by manufacturing sector with 0.95 points. The indices of hotel and trading groups remained same the entire week.
The shares of 90 companies were traded last week. A total of 466,300 units of shares worth Rs. 345.43 million were traded in 4374 transactions.
There turnover declined by 32.63 percent against the figure of the previous week. A total of 688,700 units of shares worth Rs. 512.72 million had been traded in 5820 transactions the previous week. The sensitive index that measures the performance of 'A' class companies witnessed a decline of 3.35 points.
'A' class companies' shares worth Rs. 234 million, a share of 67.75 percent of the total transactions, were traded. The Bank of Kathmandu topped in terms of turnover.
The National Hydropower Company continued to top for several week in terms of number of shares traded and Bank of Asia topped in terms of number of transactions.
Meanwhile, 5.53 million rights shares of Development Credit Bank Limited and 1.56 million rights shares of Nepal Development and Employment Promotion Bank were listed in the stock exchange last week.
Likewise, 1.24 million bonus shares of Siddharth Bank and 80,784 bonus shares of Premier Finance was also listed last week.

Bank of Asia Nepal (BoAN)’s dividend

KATHMANDU: Bank of Asia Nepal (BoAN) in its 47th Board of Directors meeting on Monday announced cash dividends of five per cent from the profit of fiscal year 2008-09. “The disbursement of dividendd will be subject to approval from Nepal Rastra Bank and the bank’s annual general meeting,” said the bank. — HNS