Nepal SBI Bank to give 27% bonus shares

KATHMANDU, Feb 7: Nepal SBI Bank Ltd recently held its 22nd annual general meeting (AGM). Issuing a statement, the commercial bank said that the AGM held on Sunday approved a proposal to distribute 27 percent bonus shares and 1.42 percent cash dividend to its shareholders.

The AGM also approved a decision of the board of directors to float rights shares to raise Rs 2.6 billion. According to the statement, the bank is also starting process to set up its merchant bank subsidiary -- Nepal SBI Merchant Banking Ltd.

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Nepal SBI Bank AGM approves 28 percent bonus share