Nepal: Nepal SBI Bank, a joint venture of the State Bank of India, has recorded a 27.70 per cent rise in profit to Nepalese Rs 316.37 million in 2008-09 compared to last year.
The bank, having a paid up capital of Rs 1.66 billion, also attained earning per share of Rs 36.18 from previous year's Rs 28.33.
The Nepal SBI has also decided to allocate one share per two share or 50 per cent right issue and 40 per cent bonus share this year, according to the bank's management.
However, the decision has to be formally endorsed when it convenes its Annual General Meeting in Kathmandu on Monday.
The bank, which has 32 branches across the country, has also decided to add 10 more branches in the coming year.
The bank has 323 staff at present.
PTI
First Published: Saturday, January 09, 2010, 17:37