CIT Earned Over Rs 1.25 Billion in Net Profit Last Fiscal Year

The Citizen Investment Trust (CIT) posted a net profit of over Rs 1.25 billion in the last fiscal year Trust (FY 2024/25). 

Of the total profit, Rs 251.2 million was allocated to the general reserve fund, while the remaining amount was distributed to members as bonuses, the Trust said.

The details were shared at the CIT’s 31st Annual General Meeting (AGM), which concluded in Kathmandu on Wednesday. The AGM approved the distribution of a five percent bonus share and an eight percent cash dividend from the income of the last fiscal year.

According to the Trust, net fund collection from various savings programmes stood at Rs 266.65 billion in the last fiscal year. The savings mobilisation balance reached Rs 296.89 billion by the end of the first three months of the current fiscal year.

The AGM also endorsed the Trust’s annual report, profit and loss account for the fiscal year 2024/25, cash flow statement, and other related financial statements. The meeting unanimously elected Narayan Prasad Ghimire as the representative of general shareholders.

Addressing the AGM, CIT Chair Tulasi Prasad Ghimire said shareholders’ satisfaction with the dividend, along with their concerns regarding employee facilities and capacity enhancement, was encouraging. He pledged to operate the Trust in a more systematic manner to ensure sustainable growth.

Executive Director Parbat Kumar Karki said the issues raised at the AGM would be addressed, adding that the organisation is being run as a well-governed institution. He also cited challenges in recovering loan investments made in Nepal Airlines Corporation but expressed confidence that the amount would eventually be recovered, as the Government of Nepal is the guarantor.

Karki further said that under its institutional social responsibility, the CIT has contributed to education, disaster management and reconstruction efforts. He added that the Trust is gradually digitalising its data and strengthening data security. -- RSS