Tag: Asia

  • “NIC Asia Bank Auctions Promoter Shares of CIT, SWMF, and MSLB Today”

    “NIC Asia Bank Auctions Promoter Shares of CIT, SWMF, and MSLB Today”


    NIC Asia Bank Limited is conducting an auction for promoter shares of three companies from 12th Shrawan to 18th Shrawan, 2080. The companies include Citizen Investment Trust (CIT), Suryodaya Womi Laghubitta Bittiya Sanstha Limited (SWMF), and Mahuli Laghubitta Bittiya Sanstha Limited (MSLB). Qualified investors can participate in the auction for 10,000 units of CIT promoter shares, with a minimum bid quantity of 1000 units. Additionally, 85,940 units of SWMF promoter shares and 4,920 units of Mahuli Laghubitta promoter shares will also be auctioned.

     

  • “Auction Begins Today: NIC Asia Bank, Sanima Bank, and Chhimek Laghubitta Promoter Shares”

    “Auction Begins Today: NIC Asia Bank, Sanima Bank, and Chhimek Laghubitta Promoter Shares”


    NIC Asia Bank Limited (NICA) is offering 4,00,000 units of its promoter shares through an auction open to the qualified general public and institutions. The auction is taking place from the 9th Shrawan to the 18th Shrawan, 2080. Interested bidders can participate with a minimum bid rate of Rs. 375 per share, and the minimum bid quantity is 1000 units. While bidders can bid for the entire share offering, they must adhere to Nepal Rastra Bank’s regulations to avoid exceeding the specified quantity of shares per entity.

     

  • NIC Asia Bank Limited Initiates Auction of 345,680 Promoter Shares to General Public

    NIC Asia Bank Limited Initiates Auction of 345,680 Promoter Shares to General Public


    Promoters of NIC Asia Bank Limited (NICA) have initiated an auction to sell 345,680 units of their promoter shares to the general public. The auction period will run from the 2nd of Jestha to the 9th of Jestha, 2080.

    The auction is open to individual investors, companies, and institutions, with a minimum bid rate of Rs. 365. Interested bidders must submit a minimum bid quantity of 1000 units for the promoter shares. While bidders can bid for the entire issue, they must comply with the regulations set by the Nepal Rastra Bank, which restrict the quantity of shares per entity.

    NIBL Ace Capital Limited has been appointed as the auction manager for this process. Bids will be opened at the premises of the auction manager on the 10th of Jestha, 2080, at 3 PM.

    As of the time of writing, the Last Traded Price (LTP) of NICA stands at Rs. 694.60.

  • NIC Asia Bank Leads Trading Volume, NIBL Growth Fund Surges, and SALICO Faces Loss: Market Highlights

    NIC Asia Bank Leads Trading Volume, NIBL Growth Fund Surges, and SALICO Faces Loss: Market Highlights


    NIC Asia Bank Limited (NICA) had the highest trading volume of Rs. 3.04 crores and closed at a market price of Rs. 694.60 per share. The shares of PRVU had the highest trading activity.

    NIBL Growth Fund (NIBLGF) experienced the highest gain of 9.88% during the day.

    On the other hand, Sagarmatha Lumbini Insurance Co. Limited (SALICO) recorded the highest loss of 6.45% today.

    Among the sector indices, only four closed in positive territory, with the “Manufacturing and Processing” sector gaining the highest at 0.52%. The “Non-Life Insurance” sector had the highest decline, losing 0.62% today.

  • NIC Asia Laghubitta Bittiya Sanstha Limited Reports 58.93% Decline in Net Profit for Q3 FY 2079/2080

    NIC Asia Laghubitta Bittiya Sanstha Limited Reports 58.93% Decline in Net Profit for Q3 FY 2079/2080


    NIC Asia Laghubitta Bittiya Sanstha Limited (NICLBSL) has released its third-quarter report for FY 2079/2080, indicating a significant decline in net profit by 58.93%. According to the report, the net profit dropped to Rs. 23.24 crore, compared to Rs. 56.60 crore in the same quarter of the previous year.

    The company’s borrowings decreased by 12.91% to Rs. 14.14 Arba, down from Rs. 16.23 Arba in the corresponding quarter of the previous year. Deposits also saw a decline of 14.80% to Rs. 2.85 arba, while loans and advances decreased by 7.30% to 19.58 Arba during this quarter.

    The core revenue, represented by net interest income, experienced a significant decrease of 34.96% to Rs. 77.67 Crores, compared to Rs. 1.19 Arba in the same quarter of the previous year.

    In terms of financial position, the paid-up capital of the company remained at Rs. 1.73 arba in this quarter, and its reserve and surplus stood at Rs. 1.28 arba.

    The company’s non-performing loans (NPL) increased from 1.46% to 4.91%.

    The earnings per share (EPS) for the company is reported as Rs. 17.82, while the net worth per share stands at Rs. 173.65. The company traded at a price-to-earnings (P/E) multiple of 33.22 times.

  • ICRA Nepal confirms the rating of NIC ASIA Bank’s Rs 3 arba debenture as ICRANP LBBB.

    ICRA Nepal confirms the rating of NIC ASIA Bank’s Rs 3 arba debenture as ICRANP LBBB.


     

    ICRA Nepal Limited has confirmed NIC Asia Bank Limited’s grade. The rating has been removed from the ‘Watch with Negative Implications’ category and moved to the “Issuer Not Cooperating” category, with the following notification for rating withdrawal:

    The rating agency has assessed the bank’s NPR 3,000 million subordinated debenture as [ICRANP] LBBB “Issuer Not Cooperating”; it has been withdrawn from watch with negative implications and moved to the issuer not cooperating category with notice of withdraw

  • Asian Life Insurance will support the 8.947% dividend.

    Asian Life Insurance will support the 8.947% dividend.


     

    Asian Life Insurance Company Limited (ALICL) has scheduled its 15th Annual General Meeting for the 18th of Baisakh, 2080. The meeting will begin at 11:30 a.m. that day in Hotel Classic Simara, Bara.

    Among the other items on the agenda, the AGM will approve an 8.947% dividend of Rs. 26.01 crores for fiscal year 2078/79. The board of directors decided today (Falgun 30) to distribute 8.50% bonus shares and a 0.447% cash dividend (for tax purposes). The value of the bonus shares is Rs. 24.71 crores, and the cash dividend is slightly more than Rs. 1.30 crores. ALICL’s current paid-up capital is Rs. 2.90 Arba.

     

  • Economic growth is expected to slow to 4.1% in 2023, with inflation remaining at 7.4%, according to the Asian Development Bank.

    Economic growth is expected to slow to 4.1% in 2023, with inflation remaining at 7.4%, according to the Asian Development Bank.


     

    The Asian Development Bank (ADB) forecasts 4.1 percent economic growth in Nepal in 2023, with inflation at 7.4 percent.

    According to the April 2023 Asian Development Outlook (ADO), Nepal’s economic growth rate is expected to slow in 2023 compared to last year due to tight monetary policy, sluggish domestic demand, the unwinding of pandemic stimulus, and persistent global headwinds.

  • NIC Asia Laghubitta Announces Book Closure Date for its 14.75% Cash Dividend; Holds Annual General Meeting on Baisakh 10

    NIC Asia Laghubitta Announces Book Closure Date for its 14.75% Cash Dividend; Holds Annual General Meeting on Baisakh 10


    NIC Asia Laghubitta Bittiya Sanstha Limited (NICLBSL) has scheduled its 5th Annual General Meeting for 10th Baisakh, 2080. The meeting will begin at 9 a.m. that day in Hotel Gajur Palace – Hotel in Dharan, Sunsari.

    Among the other items on the agenda, the AGM will approve a 14.75% cash dividend for fiscal year 2078/79. The board of directors decided to pay out the entire dividend in cash at their meeting on Falgun 21. Because the company’s paid-up capital is Rs. 1,73,94,40,000, the cash dividend is worth slightly more than Rs. 25,65,67,400.

     

  • SEBON Approves Mahalaxmi Debenture 2089 at 11%

    SEBON Approves Mahalaxmi Debenture 2089 at 11%


    On Chaitra 05, 2079, the Securities Board of Nepal (SEBON) authorized the “11% Mahalaxmi Debenture 2089.”

    Mahalaxmi Bikas Bank Limited (MLBL) plans to issue 10 lakh unit debentures at Rs 1000 per unit. During a period of ten years, the bank will give an interest rate of 11% on the debenture.

    Out of the total number of units given, 4 lakh will be made available to the general public and 6 lakh would be made available for private placement.

    The issue manager is NIC Asia Capital. The offering would generate a total of Rs 1 Arba.

  • All 5 NIC Asia Capital Mutual Fund Schemes have published the Falgun Month NAV Report.

    All 5 NIC Asia Capital Mutual Fund Schemes have published the Falgun Month NAV Report.


     

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    The financial highlights for the month of Falgun have been published by NIC Asia Balanced Fund (NICBF), a 10-year close-end mutual fund scheme managed by NIC Asia Capital. The period’s NAV was Rs. 10.73, which was lower than the previous month’s NAV of Rs. 11.26.

    The scheme started with a Rs. 75.50 crore fund, including seed capital from the fund sponsor. The scheme has spent Rs. 43.10 crores on listed company shares and Rs. 19.52 crores on debentures. Non-listed shares are worth Rs. 1.34 crores. The amount invested in fixed deposits is Rs. 9 crores, and the bank balance is Rs. 4.38 crores.

     

  • The NIC ASIA Laghubitta Parasi branch organizes a walkathon to commemorate the 11th Global Money Week.

    The NIC ASIA Laghubitta Parasi branch organizes a walkathon to commemorate the 11th Global Money Week.


    Through its sub-provincial office in Nawalparasi, NIC ASIA Laghubitta has organized a rally program to commemorate Global Money Week 2023 in Parasi.

     

    According to the media statement, the event was led by the Parasi Laghubitta Employee Forum, and participants carried placards for financial awareness.