NRB approves 28.49% dividend of Om Finance

Kathmandu October 18- NRB has approved of 28.49% dividend proposal of Om Finance Ltd. BOD meeting of Om finance had proposed of 27.07% of bonus share and 1.42% of cash dividend for tax provision.

The proposed dividend is subject to approved by forthcoming AGM before distributing to its investors. After distribution of bonus share, the paid up capital of company will increased to Rs. 494 million 586 thousands.

Om finance is in merger process with City Development Bank. After the merger, both of the companies will be operating jointly as a national level development bank. Finance has collected deposit of Rs. 4 billion 800 million and lended Rs. 3 billion 940 million. Similarly, finance has earned Rs. 201 million 700 thousands profit in FY 2071/72.