Civil Bank, Civil Merchant & Axis' special AGMs on March 3; swap ratio: 1:0.79

Four months after signing a MoU for the merger, Civil Bank Limited, Civil Merchant Bittiya Sanstha and Axis Development Bank Limited have decided to hold their Special Annual General Meetings on March 3 to formally endorse their merger.

The swap ratio has been fixed at 1:0.79 for the commercial and the other two BFIs following DDA Report prepared by BRS Neupane and Company, according to separate notices issued by the three companies today.

Civil Bank AGM endorses 5.7% cash dividend, Merger with Axis Development Bank & Civil Merchant Finance

Civil Bank Limited’s third Annual General Meeting held yesterday took a number of important decisions, including endorsement of 5.7 percent cash dividend to the shareholders from the net profit the young commercial bank posted in the last fiscal year 2069/70.

Besides, the AGM also saw an election of three members to the Board of Directors from the ordinary shareholders. They are Ghanendra Bahadur Shrestha, Mitra Lal Shrestha and Sangam KC.

Civil Bank endorses 5.75% cash dividend for fiscal year 2069/70

Civil Bank Limited has decided to distribute 5.75 percent cash dividend to the shareholders from the net profit it posted in the last fiscal year 2069/70.

The Annual General Meeting of the commercial bank yesterday took the decision to this effect.

Pokhara Finance earning rises 157%, Axis Development profit dips

Axis Development Bank has reported steep decline in net profit. The bank’s profit fell to Rs 2.03 crore in the FY 2069/70 from Rs 5.75 crore reported in previous fiscal, a slide of 64.62%.
The bank’s deposits increased 51.47% to Rs 1.57 arba and loans and advances grew 54.11% to Rs 1677758520.
Pokhara Finance Limited’s profit increased a massive 157.06% to Rs 1.17 crore in the FY 2069/70. The company had reported a loss of Rs 2.05 crore in the last fiscal.