Kumari Bank to distribute 21 percent bonus shares

Published On: January 4, 2017 09:15 PM NPT By: Republica  | @RepublicaNepal

KATHMANDU, Jan 4: The board of directors of Kumari Bank Ltd (KBL) has proposed to distribute 21 percent bonus shares and 1.1 percent cash dividend (for tax purpose) to the bank's shareholders from the profit earned in Fiscal Year 2015/2016.

The decision, however, is subject to approval of the Nepal Rastra Bank and the bank's upcoming annual general meeting, according to a statement issued by the bank.

The statement further added that the bank was preparing to acquire Kasthamandap Development Bank Ltd, Pashchimanchal Finance Company Ltd, Mahakali Development Bank Ltd and Kankrebihar Development Bank.

The total paid- up capital of the bank will reach Rs 6.42 billion after distribution of bonus share, right share and completion of acquisition process, statement added.

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