NMB Bank to issue preference shares worth Rs 3 billion

KATHMANDU, SEPTEMBER 1: NMB Bank Limited is set to issue preference shares worth Rs 3 billion. The bank has decided to issue non-redeemable cumulative preference shares with a dividend rate of 8.25%.

The decision to issue preference shares at a face value of NPR 100 per share was made at the board of directors meeting held recently. The bank also informed that it would seek approval from regulatory bodies, including the Nepal Rastra Bank, before proceeding with the issuance.

The preference shares will only be issued after receiving the necessary approvals from the regulatory authorities. Currently, the bank's paid-up capital stands at Rs 18.3667 billion.