17th AGM of Machhapuchchhre Bank endorsed 16% stock dividend & 50% right shares

Machhapuchchhre Bank Limited (MBL)  convened  its 17^th Annual General Meeting (AGM) yesterday  (Baisakh 26, 2073). The AGM  endorsed 16 percent bonus shares and 0.84 percent cash dividend for tax purpose from the net profit it earned from the fiscal year 2071/72 and 2:1 (50%) right share after the bonus share is issued. The commercial bank had a net profit has increased to Rs 62.42 crore in the third quarter of the ongoing fiscal year. The commercial bank has paid up capital of Rs 3.33 arba with reserve of Rs 2.13 arba in third quarter. The bank has collected deposit of Rs 48.43 arba in Q3and disbursed loans and advances of Rs 40.81 arba. The bank is providing services to more than 4 lakh customers through 56 branches, 1 extension counter and   71 ATM.