Nepal Clearing House Completes 15th Annual General Meeting, Approves 15% Bonus Shares
Nepal Clearing House Limited (NCHL) has concluded its 15th Annual General Meeting for FY 2082/83, approving a 15% bonus share and 0.789474% cash dividend for tax purposes. The meeting also authorized the Board of Directors to establish a subsidiary company to strengthen payment systems and develop technology.
Kathmandu. Nepal Clearing House Limited (NCHL) has concluded its 15th Annual General Meeting for FY 2082/83 in Kathmandu. The meeting approved the balance sheet, profit and loss account, and cash flow statement up to Ashadh end 2083, along with the auditor's report, and passed a resolution to distribute 15% bonus shares and 0.789474% cash dividend for tax purposes. Following this, NCHL's paid-up capital will stand at Rs. 1,67,72,88,200.
The company will use the capital increase to enhance national payment systems, additional payment systems for national and cross-border transactions, additional infrastructure for DPI, strengthen risk management, and upgrade existing infrastructure.
In FY 2082/83, a total of 23.82 crore payment transactions worth Rs. 210 trillion were settled through NCHL's payment systems. With a 13% increase in the number and value of transactions settled by the company during the fiscal year, the company's operating income grew by 7%. The company's net profit stood at NPR 41 crore, which is 2% lower than the previous fiscal year.
The AGM also authorized the Board of Directors to proceed with the necessary approvals and processes to establish a separate public limited company as a subsidiary or associate company, with the objective of conducting research in banking/financial and payment-related technology, developing and integrating technology and software, and performing related necessary work. The company will work with the aim of developing and integrating technology and software required for the financial sector.
NCHL's Board of Directors includes 1 representative from Nepal Rastra Bank, 3 from commercial banks, 1 each from development banks and finance companies, and 1 independent director. Nepal Rastra Bank holds 9.45% ownership in NCHL, while banks and financial institutions hold 90.55%.