Tag: Valley

  • Mirmire Laghubitta Reports 41.48% Decline in Q2 Net Profit for FY 2080/2081

    Mirmire Laghubitta Reports 41.48% Decline in Q2 Net Profit for FY 2080/2081


    In the second quarter report of the fiscal year 2080/2081, Mirmire Laghubitta Bittiya Sanstha Limited (MMFDB) disclosed a significant 41.48% decrease in net profit. According to the company’s published report, the net profit declined from Rs. 5.81 crore in the corresponding quarter of the previous year to Rs. 3.4 crore.

    Various financial metrics also showed changes. The company’s borrowings decreased by 0.20% to Rs. 4.89 Arba compared to Rs. 4.9 Arba in the corresponding quarter of the previous year, while deposits decreased by 0.77% to Rs. 2.59 Arba. However, the company’s loans and advances increased by 3.32%, reaching 8.26 Arba in the same quarter.

    The net interest income (core revenue) experienced a significant decline of 25.84%, falling to Rs. 17.85 crores from Rs. 24.07 crore in the corresponding quarter of the previous year. Key financial figures included a paid-up capital of Rs. 66.57 crores, retained earnings of Rs. 6.23 crores, and reserves and surplus of Rs. 36.64 crores in the reported quarter.

    Additionally, the non-performing loans (NPL) ratio increased to 4.51% from 3.84%, while the cost of funds decreased to 10.45% from 11.72%. The capital adequacy stood at 9.71%. The company’s annualized earnings per share (EPS) was reported at Rs. 10.22, and the net worth per share was Rs. 164.41. The company traded at a price-to-earnings (P/E) multiple of 61.08 times.

    The table presents major financial highlights, showcasing a comparison between the immediate previous year’s quarter ending figures and those of the current quarter for various financial parameters.

  • Nepal Clearing House Ltd. Processes Over NRs. 84 Billion on the Last Day of Poush 2080

    Nepal Clearing House Ltd. Processes Over NRs. 84 Billion on the Last Day of Poush 2080


    On the final day of Poush 2080, Nepal Clearing House Ltd. (NCHL) facilitated transactions totaling over NRs. 84 Billion through its payment systems. This marked a significant increase of 60 percent in transaction volume and 70 percent in transaction value compared to the corresponding day in the previous year. NCHL-ECC, NCHL-IPS, and RPS processed transactions amounting to NRs. 41 B, NRs. 14 B, and NRs. 29 B, respectively, on the last day of the second quarter.

    Real-time transactions within the RPS system experienced a surge, with transactions initiated from various sources such as connectIPS (App, Web, Gateway), CORPORATEPAY, bank branches, mobile banking, wallets, and NPI-integrated channels/systems. Throughout the day, both NCHL-IPS and RPS systems witnessed significant Government revenue collections surpassing NRs. 1.6 B and expenses exceeding NRs. 6.8 B, equivalent to over 1.25 lakh transactions. Government payments were facilitated through various channels, including connectIPS, CORPORATEPAY, NEPALPAY QR gateway, bank branches, mobile banking, and wallets.

    NCHL’s systems are utilized by more than 53 bank financial institutions (BFIs) as direct members and over 100 non-bank institutions as indirect or technical members. The BFIs extend payment services through their extensive network of over 7,000 branches, while indirect/technical members reach their customers through diverse channels.

  • Machhapuchchhre Bank Successfully Concludes Promoter Shares Auction.

    Machhapuchchhre Bank Successfully Concludes Promoter Shares Auction.


    The auction closing day of Machhapuchchhre Bank’s 1,12,32,492 Units Promoter Shares marked a crucial milestone in the bank’s strategic initiatives. By offering these shares, the bank aimed to enhance capital, allowing for expansion and strategic projects.

     

  • Muktinath Bikas Bank’s 17th AGM: Approves 10.26% Dividend and Elects New Board of Directors

    Muktinath Bikas Bank’s 17th AGM: Approves 10.26% Dividend and Elects New Board of Directors


    Muktinath Bikas Bank effectively conducted its 17th Annual General Meeting in Pokhara on the 28th day of Poush, 2080 B.S. During the meeting, the approval was granted for the annual report of the fiscal year 2079/80, and a dividend distribution of 10.26% to shareholders was endorsed. This dividend comprises 9.75% in bonus shares and 0.51% in cash dividends to facilitate tax considerations.

    In the course of the event chaired by Mr. Bharat Raj Dhakal, the Chairman of the Bank’s Board of Directors, Mr. Gajendra Man Shrestha, a Board member, delivered a welcoming speech. Mr. Pradyuman Pokharel, the Bank’s CEO, shared insights into the current status and future strategies. The meeting also provided a platform for addressing queries and suggestions from shareholders, drawing on information from the annual report.

    Additionally, the Annual General Meeting resulted in the election of a new Board of Directors, featuring individuals such as Mr. Bharat Raj Dhakal, Mr. Narayan Kumar Shrestha, Mr. Bharat Prasad Lamsal, Mr. Vinod Kumar Sharma, and Mrs. Saroja Shrestha (Koirala). The confirmation of this selection was conducted by Mr. Til Bahadur Gurung, the Chief Information Officer of the bank.

  • Mahalaxmi Bikas Bank Holds 20th Annual Meeting, Approves Cash Dividend and Plans for Future Growth

    Mahalaxmi Bikas Bank Holds 20th Annual Meeting, Approves Cash Dividend and Plans for Future Growth


    Mahalaxmi Bikas Bank Limited (MLBL) successfully concluded its 20th Annual General Meeting under the theme “Sabal Bank, Safal Sahakarya” at Lainchaur Banquet in Kathmandu. The meeting, led by Mr. Rajesh Upadhyay, Chairman of the Bank’s Executive Committee, undertook a comprehensive review of the financial performance for the fiscal year 2079/80. This assessment included a thorough examination of audited statements, profit and loss accounts, and cash flow details. Notably, a key highlight was the unanimous approval of a proposal to distribute a 6.40% cash dividend to shareholders based on the profits of the fiscal year.

    Beyond financial matters, the meeting also reached a consensus on a proposal to explore potential strategic partnerships or investments with foreign banks and financial institutions. Additionally, the appointment of J.B. Rajbhandari and DiBins Chartered Accountants for the audit of the fiscal year 2080/81 received approval. The gathering further gave unanimous consent to amendments made to the bank’s management paper and regulations, reflecting a collaborative decision-making process during the Annual General Meeting.

  • Himalayan Times Media Entertainment and Tech Ltd Appoints Muktinath Capital for 7 Lakh IPO Shares Offering

    Himalayan Times Media Entertainment and Tech Ltd Appoints Muktinath Capital for 7 Lakh IPO Shares Offering


    Himalayan Times Media Entertainment and Tech Ltd (HTMETL) has designated Muktinath Capital as its sales manager for the initial public offering (IPO) of ordinary shares. The agreement between HTMETL and Muktinath Capital, formalized on January 9, outlines the issuance of 700,000 units of ordinary shares valued at Rs 70 million. Each share has a face value of Rs 100 and will be made available to the general public.

    Established in 2001, The Himalayan Times (THT) is a well-established English-language newspaper that achieved an A+ rating, the highest possible rank, in the Press Council Nepal’s 2018 newspaper classification report. Within a year of its launch, THT became the leading English daily in Nepal and claimed the top position in readership. Renowned for its high-quality journalism and broad appeal, particularly among the younger demographic, THT is the largest-selling English broadsheet in Nepal. The newspaper is recognized for its comprehensive coverage, analysis, and opinions on various subjects such as news, politics, business, technology, culture, lifestyle, and more. THT upholds principles of responsible journalism, supporting freedom of expression and a free press while providing a platform for marginalized voices.

    HTMETL, in addition to its media ventures, organizes prestigious events in Nepal, including TGIF Nepal Fashion Week, The Himalayan Times Brandfest, and The Himalayan Times International Food Festival, with plans for more events in the pipeline. Through its website, HTMETL reaches millions of readers each month, maintaining its position as the top English news site in Nepal.

  • Commercial and Development Banks’ Performance in Nepal for FY 2080/81

    Commercial and Development Banks’ Performance in Nepal for FY 2080/81


    Nepal Rastra Bank has recently published data outlining the financial performance of both commercial banks and development banks for the initial five months of the ongoing fiscal year 2080/81, concluding in Mangsir.

    Concerning commercial banks, the combined net profit for the first five months of the fiscal year 2080/81 in Nepal reached Rs. 28.36 Arba. Noteworthy is Nabil Bank’s leading position, having attained the highest net profit of Rs. 2.96 Arba. Global IME Bank closely followed with earnings of Rs. 2.73 Arba, securing the second position, while NIMB claimed the third spot with a net profit of Rs. 2.6 Arba during this period. In contrast, Agricultural Development Bank reported the lowest net profit among commercial banks at Rs. 12.5 Crores.

    Turning to development banks, despite three out of the 17 banks incurring losses, the overall sector in Nepal achieved a net profit of Rs. 1.9 Arba. Muktinath Bikas Bank exhibited outstanding performance with an impressive net profit of Rs. 45.93 crore, closely followed by Garima Bikas Bank with earnings of Rs. 38.67 crore. Conversely, Corporate Development Bank and Narayani Development Bank reported the lowest profits in the sector, with earnings of Rs. 1.09 Crores and Rs. 10.7 Lakhs, respectively. Notably, Saptakoshi, Salapa, and Excel Development Bank faced challenges as they experienced net losses during the same period.

  • NLG Insurance Proposes 5.79% Dividend for Fiscal Year 2079/80

    NLG Insurance Proposes 5.79% Dividend for Fiscal Year 2079/80


    NLG Insurance Company Limited (NLG) has proposed a dividend of 5.78947% for the fiscal year 2079/80. In the 422nd meeting of the board of directors held on Poush 29, the decision was made to distribute this dividend on the paid-up capital of Rs. 1,45,92,75,791. The proposed dividend includes 5.5% bonus shares valued at slightly over Rs. 8.02 crores and a 0.28947% cash dividend (for tax purposes) amounting to Rs. 42.24 lakhs. It’s important to note that the distribution of the dividend is contingent upon approval from the Nepal Insurance Authority and endorsement during the company’s upcoming Annual General Meeting (AGM). NLG’s closing stock price last Thursday was Rs. 845.40.

    The dividend history of NLG indicates its consistent efforts to reward shareholders. The graphical representation illustrates the company’s commitment to providing returns to its investors over time.

  • NEPSE Index Surges by 1.51%

    NEPSE Index Surges by 1.51%


    The Nepal Stock Exchange (NEPSE) Index concluded the day with a notable gain of 31.62 points, equivalent to a 1.51% increase from the previous day’s closing, reaching a total of 2,120.62 points. This follows a slight loss of 0.62 points in the index during the preceding trading day.

    The market commenced today with the index opening at 2,093.48. It experienced fluctuations throughout the day, reaching an intraday low of 2,093.44 and achieving an intraday high of 2,121.67.

    During the day’s trading activities, a total of 314 different stocks were exchanged in 94,526 transactions. The total volume of shares traded amounted to 16,605,234, contributing to a turnover of Rs. 5.45 Arba. The market’s capitalization stood at Rs. 33.30 Kharba, with a float market capitalization of Rs. 11.50 Kharba.

    Nepal Reinsurance Company Limited Promoter Share (NRICP) recorded the highest turnover, reaching Rs. 35.68 crores, and closed at a market price of Rs. 100.

    Eleven companies experienced positive circuit trends for the day, while Mega Mutual Fund -1 (MMF1) incurred the highest loss of 9.53%.

    In the sector indices, two sectors closed in the red. The “Hydropower Index” exhibited the most substantial gain of 4.58%, while the “Trading Index” faced a loss of 0.94%.

  • Gold and Silver Prices Surge in Nepal: Significant Increase of Rs. 600 per Tola

    Gold and Silver Prices Surge in Nepal: Significant Increase of Rs. 600 per Tola


    The cost of the precious yellow metal has risen by Rs. 600 per tola today in comparison to the trading price on Friday. As per the Federation of Nepal Gold and Silver Dealers’ Association (FENEGOSIDA), the current trading value for fine gold is Rs. 1,19,200 per tola, marking a Rs. 600 increase from Friday’s rate of Rs. 1,18,600 per tola.

    Similarly, Tejabi gold is now available at Rs. 118,650 per tola, showing a surge of Rs. 600 from its Friday price of Rs. 1,18,050 per tola.

    In addition to the gold prices, the price of silver has also seen an uptick of Rs. 20 per tola. The present market rate for silver stands at Rs. 1,420 per tola, contrasting with Friday’s closing rate of Rs. 1,400 per tola.

  • Himalayan Everest Insurance Sets AGM on 25th Magh to Approve 15% Dividend; Book Closure Date?

    Himalayan Everest Insurance Sets AGM on 25th Magh to Approve 15% Dividend; Book Closure Date?


    Himalayan Everest Insurance Limited (HEI) has scheduled its 30th Annual General Meeting (AGM) for February 25, 2080. The meeting will take place at Baneshwor Banquet in Thapagaun, starting at 11 AM.

    One of the key items on the AGM agenda is the approval of a 15% dividend for the fiscal year 2079/80. In a previous board meeting on Poush 25, it was decided to distribute this dividend on the paid-up capital of Rs. 2.30 Arba. The proposed distribution includes 8.63% bonus shares valued at Rs. 19.86 crore and a 6.37% cash dividend (including tax) amounting to Rs. 14.66 crore.

    Additionally, the AGM will cover the endorsement of the auditor’s report, along with profit and loss statements, financial reports, and cash flow reports. The appointment of an auditor for the fiscal year 2079/80 is also on the agenda. Furthermore, there will be discussions about enhancing the facilities and allowances for the board of directors.

     

  • Gold Prices Rebound, Surge by Rs. 300 per Tola After Four-Day Dip

    Gold Prices Rebound, Surge by Rs. 300 per Tola After Four-Day Dip


    After a brief four-day decline, gold is making a comeback with prices rising by Rs. 300 per tola today. The Federation of Nepal Gold and Silver Dealers’ Association (FENEGOSIDA) reports that fine gold is now trading at Rs. 118,600 per tola, marking a Rs. 300 increase from yesterday’s rate of Rs. 118,300 per tola. Similarly, Tejabi gold is available today at Rs. 118,050 per tola, reflecting a Rs. 300 uptick from yesterday’s price of Rs. 117,750 per tola.