Nepal SBI Bank AGM approves 28 percent bonus share

Published On: February 10, 2017 09:20 PM NPT By: Republica  | @RepublicaNepal

KATHMANDU, Feb 11: The 23rd annual general meeting (AGM) of Nepal SBI Bank Ltd Thursday approved distributing 28 percent bonus shares and 1.53 percent cash dividend.

According to the bank, it recorded an operating profit of Rs 2.42 billion and a net profit of Rs 1.33 billion in the last fiscal year.

“Further, the meeting also adopted a special resolution for allowing the general public shareholders to put money over and above their actual entitlement for subscribing to rights issues to the extent of the amount required for rounding off their shares to one share, if their entitlement to shares through the rights issue comes in a fraction figure with respect to the issuance of four shares for every 10 shares held,” the bank said in a statement.

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