KATHMANDU: Nepal Clearing House Limited (NCHL) has concluded its Fifteenth Annual General Meeting (AGM) for the fiscal year 2082/83 in Kathmandu. The meeting also approved the balance sheet, profit and loss account and cash-flow statement along with the audit report along with a proposal to distribute 15% bonus shares and 0.789474% cash dividend for tax purposes. After this, the paid-up capital of NCHL will be Rs. 1,67,72,88,200. The company will use the capital increase to include National Payment Systems, additional payment systems for national and cross-border transactions, additional infrastructure for DPI, strengthening risk management and upgradation of existing infrastructure.
In the financial year 2082/83, 23.82 crore payment transactions worth a total of Rs 210 trillion were settled through NCHL’s payment systems. In the financial year, the company’s operating income increased by 7% with an increase of 13% in terms of number of transactions and amount. The net profit of the company was Rs. 410 million, which is 2% less than the previous financial year.
The Annual General Meeting (AGM) has also authorised the Board of Directors to initiate necessary approvals and procedures for the establishment of a separate public limited company as a subsidiary or affiliated company of NCHL with the objective of carrying out research in banking/financial and payment technology, as well as development, installation of technology and software. The company will work with the objective of developing and installing technology and software required for the financial sector.
The Board of Directors of NCHL consists of 1 member from Nepal Rastra Bank, 3 from commercial banks, 1 each from development banks and finance companies and 1 independent director. Nepal Rastra Bank holds 9.45% ownership in NCHL and 90.55% of banks and financial institutions.
