Civil Bank’s 6th AGM approves 2.88% bonus, 40% right & acquisition of Hama & Unique Finance

Civil Bank Limited (CBL) has successfully conducted its 6th Annual General Meeting (AGM) yesterday in Kathmandu. The bank has approved 2.88% bonus share and 0.25% cash dividend for the tax purpose. Likewise, the AGM has also endorsed further 40% right share on the paid up capital after acquisition of Hama Merchant and Finance and Unique Finance. The AGM was earlier called for endorsing 30 percent right share. However, the shareholders of the bank demanded 40% right share, so the bank decided to revise right share proportion to 40% instead of 30%. Mr. Dilli Ram Shrestha, Company Secretary of Civil Bank said, “Earlier in the AGM notice, there was agenda of 30% right share but the shareholders in the AGM demanded 40% right share, so decided to endorse 40% right share to the shareholders.” The AGM also endorsed final agreement for acquiring Hama Merchant and Unique Finance. The AGM approved the share swap ratio of the acquired finance companies. The share swap ratio of Civil: Unique has been fixed at 100:90, and Civil: Hama Merchant at 100:89. Civil Bank had earned net profit of Rs.15.44 crore in the third quarter of the current fiscal year 2073/74. Its paid up capital currently stands at Rs 4.58 arba.