BNB to distribute Nu. 119 million dividend

Thimphu, March 29: The Bhutan National Bank (BNB) has said it will distribute Nu. 119 million dividend to its shareholders and another Nu.12 million bonus of three months to its employees.

The money is drawn from the profit it made last year.

4,582 shareholders and 327 employees of the bank will benefit from the plan.

The decision was taken during the annual general meeting of the bank's shareholders held in Thimphu on March 24.

The net profit of the bank last year was Nu. 191.76 million excluding corporate tax of Nu. 83.07 million it paid.

More than 48 percent of the bank's share is hold by public while the government holds only 13 percent. Pension Board holds 25 percent, the Bhutan Trust Fund holds 10 percent and the Royal Insurance Corporation holds 2 percent.

The bank earned Nu. 503 million throungh interest on different kinds of loans. Bhutan News Service