KATHMANDU, May 11: The Annual General Meeting (AGM) of Civil Bank Ltd has approved 14.30 percent dividend – 10.25 percent stock and 4.05 percent cash – to its shareholders. The event was held at Amritbhog in Kathmandu.
Issuing a press statement, the bank said that of the cash dividend, it will distribute Rs 744 million in cash while another Rs 39 million is allotted for tax purpose.
The AGM has also re-elected Ichya Raj Tamang as its chairman. Other elected members are Prakash Tayal, Shambhu Prasad Panta, and Yugesh Bahadur Malla, according to the statement. The bank has said that it will focus on using modern technology to provide and improve services for its customers. There are currently 73 branches and 33 new ones to be established as per the bank's future plan.