NCC bank daily transaction rises; AGM to endorse 38% stock dividend

ShareSansar June 25:

NCC Bank Limited (NCCB) is going to hold its 16th and 17th Annual General Meeting (AGM) on Ashad 30, 2072. The annual general meeting will be held at Nirvana Hotel, Siddhartha Nagar, Rupandehi at 10 AM.

After the end of dispute of ownership transfer, the average number of daily transactions (based on data of June 21-June 24) has reached 92, average number of shares traded daily has reached 28,710 and average number of daily traded amount has reached Rs.17,102,998. Earlier, the average number of daily transactions (based on data of June 1-June 18) was just 22, average number of shares traded daily was 9,337 and average daily traded amount was Rs.5,256,537.

The last traded price was Rs 613 on June 24.

Nepal Rastra Bank (NRB) will hand over the management to NCC Bank after the AGM. NCC Bank has been under the control of NRB since 2070.

The main agenda of the AGM is to endorse 38 percent bonus share and 2 percent cash dividend (for tax purpose) to its shareholders from the net profit earned in the last fiscal years 2069/70 and 2070/71.

After the issuance of bonus share, NCC Bank will meet the requirement of paid up capital i.e. 2 arba set by NRB. At present it’s paid up capital stands at Rs 1.47 arba.

The bank also announced book closure date starting from Ashad 16 to Ashad 30.

The others agendas at the meeting will be the financial highlights of 2069/70 and 2070/71, appointment of auditor, amend article of association and merger.