According to the bank’s statement, the meeting of the bank’s board of directors (BoD) held on Tuesday in Butwal decided to provide 20 percent bonus shares and 1.5 percent cash dividend for the tax purpose.
Bank’s CEO Mahesh Prasad Kaphle said that the decision is, however, subject to the approval of the Nepal Rastra Bank (NRB) and the eighth annual general meeting of the bank.
According to Bishnu Kunwar, Deputy Manager of the bank, the bank has already provided 65 percent of dividend so far. He also said that the bank’s paid-up capital will reach Rs 36.64 crore after the bonus and rights shares are issued.
The bank has mobilized Rs 3.77 arba in deposit and Rs 2.45 arba in loan by the end of last fiscal year 2070/71.
The bank has been providing the financial services through 10 offices and 7 ATMs. Deputy General Manager of the bank Hari Prasad Lamsal said that the bank plans to open three new branches in Tansen of Palpa, Narayangadh of Chitwan and Taulihawa of Kapilvastu soon.-SNS
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