Nepal Clearing Houses’ AGM decided to distribute 40% dividend

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Kathmandu, Oct 12 . Nepal Clearing House Ltd. has concluded its 7th Annual General Meeting on 12th October 2018 (26th Ashwin 2075). The company booked the net profit of 181,608,708.92 for the fiscal year 207475. The AGM decided to distribute 20% cash dividend to the shareholders from the profit of the fiscal year.

Also with an intent to support infrastructure investment, the meeting also approved to distribute 20% of bonus share. With the additional bonus share, the paid-up capital of the company will increase from NRs. 180 Million to NRs. 216 million.

During the fiscal year 207475, the company processed total of 9,686,277 cheques through NCHL-ECC system with daily average transaction volume of 40,756 equivalent to daily settlement value of NRs 26.6 Billions. There are 80 members with over 4,080 branches within NCHL-ECC system.

NCHL-IPS system processed total of 1,879,663 transactions with daily average transaction volume of 8,003 equivalent to daily settlement value of NRs 3.03 Billions. NCHL-IPS currently has 73 member BFIs as direct member and 2 Indirect/Technical Members under operations.

Similarly, connectIPS e-Payment System, that was soft launched from 12th Baishak 2075 as single payments platform, has 44 participating BFIs of which 31 have come into operations. connectIPS e-Payment System provides facilities for payment of Government revenue, online fund transfer and creditor payments directly from the customers bank accounts.

The shareholding structure of Nepal Clearing House Ltd. includes 10% of Nepal Rastra Bank, 80% of the banks & financial institutions and 10% of Smart Choice Technology Ltd. And the company’s strategic objective is to establish multiple national payments, clearing and settlement systems in Nepal.