Banking News – Siddhartha Bank, established as a synonym for trust, stability, innovation, and excellent service in Nepal’s banking sector, has passed a total of 20 percent dividend for ordinary shareholders from the distributable profit of fiscal year 2082/83. The bank’s 25th Annual General Meeting passed a proposal to distribute 10 percent bonus shares and 10 percent cash dividend (including for tax purposes), as well as 8.25 percent cash dividend (including for tax purposes) to preference shareholders.

At a time when the banking sector is going through challenges including low credit expansion, competitive pressure, and sluggish economic activity in the current economic situation, the 20 percent dividend proposed by Siddhartha Bank has become a matter of special importance. Since the dividend proposed by the bank is the highest among the dividends announced by commercial banks so far, it reflects the bank’s strong financial position, business capacity, and high accountability toward shareholders.

In fiscal year 2082/83, the bank earned a net profit of approximately Rs 3.47 arab, further strengthening its financial base. Significant growth in the bank’s capital base, reserve fund, and net worth has further strengthened the bank’s long-term stability and future business potential.

The 20 percent dividend passed this year has further strengthened the bank’s tradition of providing continuous returns to shareholders. In the past five fiscal years, the bank has passed 13.16 percent, 4.21 percent, 4 percent, 10.53 percent, and currently 20 percent dividends respectively, confirming the bank’s strong financial management and sustainable return distribution capacity.

Siddhartha Bank’s success is not limited to dividend distribution alone. Keeping digital transformation as its strategic priority, the bank has been providing customers with convenient, secure, and excellent banking experiences through modern banking services including mobile banking, internet banking, QR payments, and physical and digital credit cards. The bank has been making service delivery more efficient, effective, and accessible through maximum use of digital technology.

The bank has been adopting institutional governance, transparency, and regulatory compliance as integral parts of its business culture. The bank’s firm commitment to risk management, internal control systems, customer protection, compliance, and responsible banking practices has maintained high credibility among regulatory bodies, customers, investors, and other stakeholders.

Keeping customer satisfaction and long-term relationship building as high priorities, the bank’s practice of providing services by keeping customer needs, expectations, and experiences at the center has further strengthened its relationship with customers. Siddhartha Bank has been further strengthening its identity as a leading, reliable, and responsible institution in Nepal’s banking sector by advancing financial strength, excellent governance, digital innovation, customer-centricity, and commitment to shareholders in a balanced manner.

Based on strong financial position, continuous return distribution capacity, technology-friendly banking, excellent governance, and customer-centric service, Siddhartha Bank has expressed confidence that it will continue to create sustainable value for customers, shareholders, employees, and all stakeholders in the future, further strengthening its leadership role as Nepal’s most reliable, responsible, and future-oriented bank.