Mega Bank Nepal extended the tenure of Anil Shah for next four years
Mega Bank Nepal Limited has extended the tenure of its Chief Executive Office Anil Shah by another four years.
A meeting of the one of the newest and most profitable commercial banks of the country yesterday decided to extended the tenure of 47 years old Shah, who is the founder CEO of the bank.
With 23 years of experience in the banking sector, starting with the then Greenlays Bank, Shah has already held top positions in some of the major banks such as Standard Chartered and Nabil banks.
Incepted only two years back, Mega Bank has already proposed nine percent cash dividend to the shareholders from the net profit it earned in the last fiscal year 2069/70.
The bank had posted an impressive net profit of Rs.17.73 in the last fiscal year.
Mega had gone on to post an astounding 291 percent growth in net profit in the first quarter of the current fiscal year 2070/71.
Its net profit has surged to Rs 10.18 crore from Rs 2.60 crore in the corresponding quarter of the last fiscal year.
The profit was largely propelled by its core business as shown by its net interest income, which rose to Rs 19.54 crore in the first quarter, up from Rs 1.39 crore in the corresponding quarter.
Its EPS annualized stand at Rs 16.98 and per share net worth at Rs 118.61.
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