Siddhartha Bank Limited (SBL) - Technical Analysis on 2014/09/29

Siddhartha Bank Limited till 2014/09/29
Resistance/Break Out - 915
Resistance - 800
Resistance - 725
Support - 635

Siddhartha Bank Ltd announced 12% bonus shares & 11.16% cash dividend for 2070/71

Siddhartha Bank Ltd has announced 23.6 percent dividend to its shareholders from the net profit it has earned in the last fiscal year 2070/71.

Siddhartha Bank AGM on Jan 28; 10% cash dividend & 12% bonus shares

Siddhartha Bank Limited has announced its Annual General Meeting on January 28, which, inter alias, will endorse 22 percent dividend, including 12 percent bonus shares to the shareholders from the net profit the bank posted in the current fiscal year 2069/70.

Siddhartha Bank Ltd proposed 12% bonus share & 10.11% cash dividend

Siddhartha Bank Limited has proposed 22.11 percent dividend – 12 percent bonus share and 10.11 percent cash— to the shareholders from impressive net profit it registered in the last fiscal year 2069/70.

A meeting of the commercial bank’s board of directors held on Friday took the decision to this effect.

However, the proposed dividend is subject to the approval of Nepal Rastra Bank and the Annual General Meeting of Siddhartha Bank.

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.

Siddhartha Bank posts 49.43% rise in profit to Rs 49.04 crore

Siddhartha Bank has reported 49.43% growth in profit over last year. The bank earned a profit of Rs 49.04 crore in the FY 2069/70 as against Rs 33.04 crore in the last fiscal.

The bank’s deposits increased to Rs 28.39 arba, a mere 9.42 % rise over Rs 25.94 arba reported in the last fiscal. Loans and advances grew 14.82% to Rs 23.11 arba.

8 banks, 40 dev. banks & 38 finance to issue bonus shares or rights shares or go for merger.

Eighty-six banks and finance institutions are still short of funds to meet the minimum capital base set by the new monetary policy of Nepal Rastra Bank.
As per the monetary policy, commercial banks must maintain a paid up capital of Rs 2 arba, national level development banks Rs 64 crore, finance companies Rs 20 crore and regional development banks should have a paid up of Rs 10 crore.

Two more mutual funds worth Rs 1.4 billion soon, NMB & Siddhartha

The Nepali capital market is gearing up to receive new fund offers worth Rs 1.4 billion soon.
Two mutual fund managers have already submitted their prospectus for approval at the capital market regulator — Securities Board of Nepal (Sebon). NMB Capital that has planned to issue a mutual fund scheme worth Rs 600 million has already submitted its prospectus for approval. Likewise, Siddhartha Capital — the fund supervisor of Siddhartha Investment Growth Scheme I — is also seeking approval for another scheme worth Rs 800 million.

Big bank aren't willing to merge: Tulasi Gautam (CEO of MBL)

He said that the first thing that parties entering merger must be clear about is the objective behind the merger. In many cases there is a lack of clarity when it comes to the objective, said Gautam.

Other issues that crop up during the merger process are electing representatives on the board of directors, selecting the executive head, fixing the share swap ratio and reorganizing the staff.

Listed company in CDSC - List

Listed company in CDSC

S.N.	Company	ISIN
1	ACE Development Bank Ltd.	NPE000A00007
2	Agricultural Development Bank	NPE001A00005
3	Everest Finance Co. Ltd.	NPE002A00003
4	Bank of Kathmandu Ltd.	NPE003A00001
5	Laxmi Bank Ltd.	NPE004A00009
6	Himalayan General Insurance Co. Ltd.	NPE005A00006
7	Shikhar Insurance Com. Ltd.	NPE006A00004
8	Nepal SBI Bank Ltd.	NPE007A00002
9	Siddhartha Insurance Limited	NPE008A00000
10	Siddartha Bank Ltd.
11	PrimeLife Insurance Co. Ltd.	NPE010A00006
12	Citizens Bank International Ltd.	NPE011A00004
13	Civil Bank Ltd.	NPE012A00002
14	Nepal Bangladesh Bank Ltd.

A Brief Description of Rural Microfinance Development Centre (RMDC) as its IPO is at our door step.

Rural Microfinance Development Centre (RMDC) ¿ a wholesale micro credit lender ¿ will launch the initial public offering (IPO) of its premium added shares from July 11.

RMDC has offered 1.56 million units of primary shares for Rs 180 per unit ¿ at face value of Rs 100 with added premium of Rs 80. The general public can subscribe for 1.45 million unit shares at the premium rate as RMDC has set aside 31,200 units for its employees and 78,000 units for mutual funds.

The IPO, managed by Ace Capital, will be open from July 11 to July 15. But in case of under subscription the issue will be open till July 25.

RMDC is the third company ¿ after Chilime Hydro and Nepal Telecom ¿ and the first financial institution to issue primary shares at a premium price. RMDC has been allowed by Securities Board of Nepal and Nepal Rastra Bank (NRB) to issue the shares at a premium rate.