KATHMANDU

NMB Bank has decided not to distribute dividends from the profits of the last fiscal year.

The meeting of the executive committee held on December 27 has decided not to distribute dividends for the fiscal year 2079–80. The meeting has decided to save the distributable profit based on the financial statements of the fiscal year.

It has been decided to submit the financial statements for approval to the Nepal Rastra Bank. The bank has also informed us that it will seek approval from the upcoming annual general meeting.

The bank had distributed 8.25 percent cash dividends in the previous fiscal year, 2078–79.