Issuing a press statement, the bank said its profit earned during the period rose to Rs 959.9 million from Rs 734.3 million during the same period last year. [break]
Similarly, advances recorded during the period touched Rs 282.17 million, up from Rs 216.99 million.
Bageshwari Dev Bank plans expansion
KATHMANDU, April 3: Bageshwari Development Bank having head office in Nepalgunj is planning to expand its branches in 10 districts. Currently the bank has nine branches in three districts.
The annual general meeting (AGM) of the bank held on Saturday decided to issue 1:2.5 right shares to further expand its area of investment and capital increment. The bank has a paid-up capital of Rs 59.4 and it plans to raise it four times through the rights issue.
Rajendra Prasad Paudel, Chief Executive Officer of the bank, said the bank was preparing to expand branches in Bardiya, Kailali, Kanchanpur, Dadeldhura, Dailekh, Pyuthan and Kapilvastu districts.
The AGM also approved 20 percent bonus shares to the shareholders.
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