Machhapuchchhre Bank convenes 21st AGM; clears way for 16% dividend to shareholders

Machhapuchchhre Bank has convened its 21^st AGM on Aswin 24, 2076 at Pokhara. The AGM has endorsed the financial reports of the previous fiscal year as well as the board’s decision to provide 16% i.e. 5% bonus shares and 11% cash dividend to its shareholders from the net profit the bank made in the same period. The AGM also handed over the authority for merger/acquisition with other suitable BFIs to the board, as per the media statement.

The bank had earned Rs 1.69 arba in net profit, maintained EPS of Rs 21.07, has paid up capital of Rs 8.05 arba, reserve and fund of Rs 2.45 arba during the FY 2075-76.

The bank currently has 140 branches, 130 branchless banking units, 162 ATM terminals and provides services to more than 7 lakh customers.