Citizens Bank International Limited has proposed a 5.26% dividend to its shareholders from the profits of the fiscal year 2081/82, following approval by the Nepal Rastra Bank and subject to ratification at the bank’s upcoming 19th Annual General Meeting (AGM).
The bank’s 491st Board of Directors meeting, held today, Asoj 10 (Friday), recommended distributing 73.84 crore bonus shares (5% of the paid-up capital of NPR 1,476.90 crore as of Ashad 2082) and 3.88 crore cash dividend (0.26% for tax purposes), totaling 77.73 crore NPR in dividends. The proposed dividend will be disbursed once it receives the central bank’s approval and AGM endorsement.
Since commencing operations on Baisakh 7, 2064, Citizens Bank has continuously provided financial services for 19 years. The bank has consistently distributed dividends to shareholders from FY 2065/66, maintaining an average dividend rate of 11.87% over the period. Over the last 10 years, including the proposed dividend, the average dividend rate is 10.52%.
The bank recently won the prestigious Bank of the Year 2024 award globally. In addition, Citizens Bank launched Nepal’s first “Citizens PhonePe Credit Card”, a virtual credit card in partnership with PhonePe, and introduced a specialized Freelancer Savings Account targeting freelancers.
Other innovations include the country’s first facility allowing shareholders to apply for shares and obtain CRN numbers through the mobile banking app, and a cross-bank teller service, enabling customers of other banks to withdraw cash at Citizens Bank branches using QR scanning.
Currently, Citizens Bank operates 200 branches, 169 ATMs, 3 extended counters, and 74 branchless banking units across 61 districts, serving over 1.937 million customers with modern banking services.
