Nepal SBI posts 13pc growth in net profit for FY19

9 December, 2019 12:00 AM printer

Kathmandu: Nepal SBI Bank, a subsidiary of State Bank of India, has posted a Rs 229.25 crore net profit for 2018-19, registering a growth of 13.29 per cent.

The bank mobilised total deposit of Rs 9,792.45 crore and extended loans and advances of Rs 8,864.47 crore at the closing of the year, according to a statement issued by the bank ahead of its Annual General Meeting, reports PTI.

Speaking at a press briefing, Nepal SBI Managing Director Anukul Bhatnagar said that the banking sector of Nepal should jointly fight against possible cyber attack as leakage of information of one bank could jeopardize the performance of the entire banking system.

The bank has decided to distribute 16.84 per cent bonus including 6 per cent bonus share and 10.84 per cent cash dividends from the last year’s profit and accumulated profits of the past, he informed.