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Published On: December 10, 2016 10:39 AM NPT By: Republica

SDBL AGM approves 24% bonus shares, 60% rights issue

SDBL AGM approves 24% bonus shares, 60% rights issue

KATHMANDU, Dec 10:  The 17th annual general meeting (AGM) of Siddhartha Development Bank Ltd (SDBL) held in Kathmandu on Friday approved a proposal by its board of directors to distribute 24 percent bonus shares from profits earned during Fiscal Year 2015/16.

Issuing a statement, the bank said its AGM also approved a proposal to raise its paid-up capital to Rs 2.50 billion through a 60 percent rights issue. The bank has total paid-up capital of Rs 1.41 billion and is operating through 33 branch offices throughout the country, it said.

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