Bank of Kathmandu 21st AGM approved 26% bonus share & merger with Lumbini Bank; Share Swap ratio fixed at 1:0.8281

Bank of Kathmandu Limited (BOK) has successfully conducted its 21^st AGM yesterday (Jestha 17, 2073). The Annual General Meeting of the bank approved 26% bonus share and 1.3684211 % cash dividend for tax purpose. Publishing a press statement yesterday it stated that the AGM approved proposals on the merger of Bank of Kathmandu and Lumbini Bank Limited. Also the AGM passed the agenda to name the merged entity as ‘Bank of Kathmandu Lumbini Limited’. The share swap ratio of Bank of Kathmandu and Lumbini Bank was approved at the ratio of 1:0.8281. Bank of Kathmandu has earned net profit of Rs 48.35 crore in the third quarter of the fiscal year 2072/73. The commercial bank has mobilized deposits of Rs 40.71 arba and extended loans of Rs 34.85 arba in the current fiscal year. BOK has been rendering banking services through 56 branches, 57 ATM counters and 7 Extension counters.