Nepal Rastra Bank’s Approval and Directions

Directives from Nepal Rastra Bank while approving the Dividend Declaration/ Distribution and Financial Statements Publication

Based on the financial statements and other documents submitted by the Bank, the provisions of Sub-section 2 of Section 47 of Banks and Financial Institutions Act 2073 are seen to have been complied; therefore as per Subsection 1 of the said Section, approval has been granted for Proposed cash dividend of Rs.1,402,000,367 subject to fulfilment of other prevailing legal provisions and approval of the same by the annual general meeting of the Bank. Additionally, consent has been granted for publication of the financial statements of FY 2017/18 for tabling it for approval at the Bank’s annual general meeting along with the below directives.

1.

2. To fully comply with point no. 39 of directive no. 2 of the Unified Directive 2075 issued by Nepal Rastra Bank on the provision for recovery of principal and interest. Arrangement should be made for full compliance of the observations/exceptions noted by the auditors in their report and for ensuring that such observations/exceptions do not repeat in future.

Above directives should be published as a separate page in the annual report of the Bank.