Stock market likely to maintain bullish trend

Amid euphoria among investors who are feeling more optimistic about the prospects of a more comfortable environment for investment, the upward journey of the Nepal Stock Exchange (Nepse) Index is expected to continue and surpass 2013´s record of 806.82 points.

They hope to benefit from a rallying secondary stock market this year against the backdrop of improvement in the political situation of the country.

The Nepse Index -- which measures the investors´ confidence in the capital market -- reached a five-year high on December 18 to close at 806.82 points. Daily turnover also touched an all-time high of Rs 810 million the following day.

Himalayan Bank announces 5% bonus shares & 10% cash dividend

Himalayan Bank Limited has proposed 15 percent dividend, including 5 percent bonus shares, to its shareholders from the net profit it earned in the last fiscal year.

A BoD meeting of the commercial bank has just proposed the dividend, which, however, is subject to the approval of Nepal Rastra Bank and the AGM of the bank.
Nevertheless, this has come as a relief to the shareholders.

Kist Bank & Prabhu Bikas Bank very close to a merger

Kist Bank Nepal and Prabhu Bikas Bank are now very close to a merger. After taking over major shares of Kist, with the help of its former chairperson, the Prabhu Group is now planning to take over the management for a smooth merger.

As part of that plan, they have reshuffled the management of Kist. CEO of Sanima Bank Kumar Lamsal has been hired as the CEO of Kist while CEO of Prabhu Bikas Bank has joined Kist as his deputy.

Lumbini Bank 8% bonus share, AGM on January 10.

Lumbini Bank Limited is holding its 16th Annual General Meeting on January 10.

The AGM to be held at the Chitwan chapter of FNCCI in Narayangarh is due to endorse 8 percent dividend to the shareholders from the net profit the commercial bank posted in the last fiscal year 2069/70.

The commercial bank had posted a net profit of Rs 14.95 crore in the last fiscal year.

Century Bank to issue public IPO shares from Jan 9 to 13, OFFICIAL NOTICE

Century Commercial Bank is going to issue its Initial Public Offering (IPO) worth Rs 92 crore on January 9. The IPO will close on January 13. Century’s IPO is one of the most expected events in the stock market not just because of its sheer volume but also because it is the last IPO to be issued by any commercial bank of the country.

Nepal Rastra Bank has stopped issuing license to the commercial bank, and, on the contrary, has been directing the commercial banks and other BFIs to seek merger.