Khandbari Development Bank to give 8% bonus shares, Biratlaxmi Bikas Bank to merge with Khandbari;

Biratlaxmi Bikas Bank Limited is going to hold its Annual General Meeting on January 5, which, inter alias, will endorse DDA report for merger with  Khandbari Development Bank.

The 9th AGM of the development bank based in Biratnagar is also approve of the directors to be selected from Biratlaxmi as well as Khandbari development bank.

Khandbari Development Bank will also hold its AGM on the same day to endorse the DDA for the merger and also to distribute 8 percent bonus shares to the shareholders from the net profit it posted in the last fiscal year 2069/70.

Birat Laxmi Bikas Bank had reported 106.97 percent growth in profits in the last fiscal year, earning a net profit of Rs 6.69 crore, up from Rs 3.23 crore posted at the end quarter of the previous fiscal year.

Biratlaxmi Bank’s EPS stood at Rs 34.48 and its net worth stood at Rs 149.39 at the end of the fiscal year.

In view of the massive growth in profits, the bank was expected to pay out 20 percent dividends to its shareholders.-sharesansar