Kathmandu. With the aim of providing banking services. Kumari Bank, established in 2057 B.S., has taken its capital base to historic heights. FY 2057. The bank, which started its business with a paid-up capital of Rs 350 million in 2018, has now managed to build a capital structure of more than Rs 26.22 billion.
The bank, which was limited to Rs 35 crore for the first three financial years, expanded its shareholding to the general public in FY2060. In FY19, it issued an initial public offering (IPO) of Rs 15 crore to raise its capital to Rs 50 crore. After the IPO issue, the bank continued its journey of distributing returns to its shareholders.
FY 2062. 63 and 2063. In FY 2064, the bank distributed 20 percent bonus shares and reached a paid-up capital of Rs 75 crore and Rs 90 crore respectively. In the year 2064, it crossed the milestone of Rs 1 billion.
Kumari Bank in FY 2066. 1.30 billion in 2067. In 2018, it raised a capital of Rs 1.60 billion to Rs 2.43 billion in 2070÷71 through bonus share distribution of 33 percent.
After the Nepal Rastra Bank adopted the policy of increasing the minimum paid-up capital of commercial banks to Rs 8 billion, Kumari Bank chose the aggressive and strong path of distribution of bonus shares from internal profit as well as institutional acquisition. FY 2073. The capital of the bank crossed Rs 5.96 billion by adding more than Rs 1.35 billion through the capital acquisition process in ’74. It reached Rs 7.16 billion in 2017.
FY 2018. Kumari Bank distributed 21.25 percent bonus shares in FY 2019 to Rs. 8.68 billion by easily crossing the limit of Rs. 8 billion in the financial year 2019. In the year 2017, it increased its size to Rs. 12.52 billion through the process of acquiring bonus and additional Rs. 2.96 billion. In the subsequent years, the bank issued regular bonus shares in the financial year 2078. By 79, the paid-up capital had increased to Rs. 14.71 billion.
The biggest and decisive turning point in the financial history of Kumari Bank came in the financial year 2079. It came in the year 2018. Where the bank completed the historic big merger with Nepal Credit and Commerce (NCC) Bank. After the successful merger added more than Rs 11.51 billion, the bank’s paid-up capital increased to Rs 26.22 billion.
Source: Financial Report of the Bank for FY 82/83
