Kathmandu: Nabil Bank held its Special General Meeting today under the chairmanship of Upendra Prasad Poudel, the Chairman of the Bank’s Board of Directors. The meeting unanimously passed special proposals related to issuing “Nabil 8% Irredeemable Non-Cumulative Preference Shares” worth NPR 5 billion.

The bank proposed issuing these shares to increase its capital base through additional Tier 1 capital as per the directives and conditions set by Nepal Rastra Bank, the central bank of Nepal. The issuance is subject to regulatory approvals.

Chairman Poudel expressed gratitude to shareholders and stakeholders for their longstanding contributions to the bank’s success. He emphasized the importance of continued support to ensure the success of this new financial instrument, which is considered an innovative capital tool in Nepal’s market. The bank believes that this new issuance will not affect the voting rights of existing shareholders, as the preference shares are non-voting and will be offered only to institutional investors.

Nabil Bank, known for its commitment to sustainable banking, has been instrumental in modernizing Nepal’s banking sector, fostering economic growth, creating employment opportunities, and being recognized repeatedly as a top tax-paying commercial bank. The bank also prioritizes corporate governance and customer satisfaction, maintaining a strong presence in corporate social responsibility.

With a history of over four decades in providing quality banking services, Nabil Bank has embraced the concept of sustainable banking and recently launched digital banking initiatives. The bank currently operates 268 branches, 316 ATMs, and serves over 2.4 million customers nationwide, reaffirming its status as Nepal’s leading commercial bank.