Sanima Bank Limited To endorse 20% bonus share, 1.05 cash dividend & right share in the ratio 2:1

Sanima Bank Limited (SANIMA) will be convening its 11th Annual General Meeting (AGM) on Ashwin 28, 2072. The AGM will be held at Naxal Banquet, Narayan Chaur, Naxal, Kathmandu.

Main agendas of the AGM are:

• To endorse 20 percent bonus share and 1.05 cash dividend (for tax purpose) from the net profit it earned from the fiscal year 2071/72
• To endorse right share in the ratio 2:1 after bonus share is issued.
• To amend the article of association and increase the authorized capital, issued capital and paid up capital.
• Authorize BOD to initiate acquisition process with other financial institutions.

Other Agendas of the AGM include Financial highlights of 2071/72, appointment of auditor and endorse the help provided to earthquake victims,
Only those shareholders owning shares till Ashwin 13 will be entitled to the dividend of the company. The register of their shareholders will remain close from Ashwin 14, 2072 till Ashwin 28, 2072 for the purpose of its upcoming (AGM) whereas, a separate book closure date will be published for the right shares.
At present SANIMA has a paid up capital of Rs 3.06 arba. After the issuance of 20 % bonus shares, its paid up capital will reach to Rs 3.67 arba whereas, after the issuance of 50 right shares its paid up capital will reach to Rs 5.50 arba.-SSN

Sanima Bank Ltd announced 15% bonus shares for FY 2070/71

Sanima Bank Ltd has announced 15 percent of bonus shares to its shareholders.According to the statement of the bank, it has said it will distribute 15 percent bonus shares to its shareholders from the net profit it has earned in the last fiscal year 2070/71.

Sanima Bank reports astounding 60% growth in net profit in Q1

Sanima Bank Limited has reported a hefty profit in the first quarter of the current fiscal year 2069/70.

The commercial bank’s net profit surged to Rs 8.63 crore in the first quarter compared to just Rs 5.42 crore in the corresponding quarter last fiscal year, according to the unaudited first quarterly report it has published today.

Rising provision, NPA threaten to cast shadow over banks’ profits

Though profits posted by most commercial banks for FY 2069/70 came as great news for the entire banking sector, the scenario might not be as rosy as it seems. 

Most of the banks have set aside huge amount of provision for nonperforming assets (NPA) to make up for bad loans.

Commercial Banks' Net profit comparison list with last year

Commercial banks recorded handsome profits last fiscal year. As of now, 11 banks have published their fourth-quarter reports of 2012-13, and net profits of all the banks have increased compared to the fourth quarter of 2011-12.
Bankers attributed the rise in profits to three factors—increment in the net interest income, foreign exchange earnings and write back of loans.

Bank deposits down by Rs 16 billion over first fortnight.

Deposits at commercial banks fell by Rs 16 billion over the first fortnight of the fiscal year 2013/14.

Commercial banks had reported total deposits of Rs 1000.17 billion at the end of the last fiscal year when huge amount of public money flowed into the market due to rapid pace of development works. Now, the development activities have come to a standstill with the beginning of new fiscal year leading to increasing withdrawal of deposits from the banks.

Sanima Bank Ltd's 25th branch in Hetauda

Sanima Bank Limited has opened its 25th branch office in Hetauda.

Bank Chairman Jiba Lamichhane and popular artistes Hari Bansha Acharya and Madan Krishna Shrestha jointly inaugurated the office, a bank statement said on Wednesday. Acharya and Shrestha are the brand ambassadors of the bank.

Non-Resident Nepalese Association won´t invest in Kathmandu- Hetauda Tunnel Highway

Jiba Lamichhane, president of Non-Resident Nepalese Association (NRNA), Wednesday clarified that NRNA won´t invest in the proposed Kathmandu- Hetauda Tunnel Highway to be developed by Nepal Purbadhar Bikash Company Ltd (NPBCL).

Sanima Bank Ltd net profits Rs 304.95 million i.e. 150% growth

Sanima Bank Ltd has posted a hefty growth in profits. The bank’s net earnings grew by a whopping 150.43 percent to Rs 304.95 million in the fourth quarter of 2069/70, as against last year's Rs 12.17 crore.

The bank has reported splendid overall growth.
Its deposits rose to Rs 17.78 arba from Rs 11.17 arba in the last FY, a rise of 59.06 percent.