Nepal Bangladesh Bank Limited has concluded its 12th, 13th, 14th and 15th annual general meeting at Rastriya Naach Ghar on 13th January 2010 (2066 Poush 29). The NRB has handed over the management of bank to NB bank. The New board will formally operate its operation from tomorrow. The AGM has appointed Baskota and Company as its auditor for the current fiscal year. The new board consists Mohmad Ufar Rahman, Ifardin Ahamad, Laxmi Bahadur Shreshta, Tirhta Man Shakya, Indra Bahadur Thapa, Bishnu Nath Adhikari and Amrit Nath Regmi.
According to the annual financial report (2065/66) of the bank, it has Rs. 1.8603 billions share capital and holds Rs. (748.0725) millions in its reserve and surplus. Likewise, it had collected Rs. 9.9976 billions as deposits. The operating profit of the bank was Rs. 710.301 million and net profit at the close of fiscal year was Rs.2.1581 billion. The hefty surge in net profit for the previous fiscal year was primarly due to the collection from write back from provision of possible losses.
There was in fact, vary perception regarding the management of NRB and its role to handle the NB Bank. Some blamed the leadership, corporate and governance for the present situation of NBB while some said it's due to unclear and controversial provision of NRB. However, the new management has given words to present the dividend in near future which is bunged almost for five consecutive years.
Source:Jamb News Service
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Saturday, January 16, 2010
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