NIC Asia Bank Limited (NICA) announces that it will not be distributing any dividends for the Fiscal Year 2078/79.

The 581st Board Meeting of NICA held on Poush 5, 2079 has decided that the bank will not be distributing any dividend for FY 2078/79. However, the financial statements are subject to approval from Nepal Rastra Bank and the upcoming Annual General Meeting of the Bank.

In the last fiscal year 2077/78 too NICA did not distribute any dividends to its shareholders.

NIC Asia Bank Limited has earned Rs 4.52 arba for the fiscal year 2078/79.

The Capital Adequacy Ratio (CAR) of the bank stands at 13.51% till Q4 2078/79, whereas, Tier 1 Capital Adequacy Ratio (including Capital Conversation Buffer) stands at 8.93% which is above than minimum 8.5% mandated by the NRB to distribute any dividend.

However, NIC Asia was unable to meet the minimum Tier 1 Capital (Core Capital) through out the FY 2078/79 which restricted banks to distribute dividends. However, all the earnings are retained this year.