Bank of Kathmandu Lumbini declares 23% bonus share; Paid up to reach Rs 5.63 arba

Bank of Kathmandu Lumbini Limited (BOKL) has decided to distribute 23 percent stock dividend to its shareholders. As per the notice published in Nepal Stock Exchange (NEPSE) yesterday, the company’s BOD meeting held on Mangsir 30, 2073 has proposed 23 percent stock dividend to its shareholders from the net profit it earned in FY 2072/73. The decision is subjected to approval from Nepal Rastra Bank and the bank’s upcoming Annual General Meeting (AGM). BOKL has earned net profit of Rs 27.09 crore in the first quarter of the fiscal year 2073/74 as per unaudited report. It’s paid up capital remains at Rs 4.56 arba. After the issuance of 23 percent bonus share, the paid up capital will rise to Rs 5.63 arba. Bank of Kathmandu and Lumbini Bank Limited had commenced joint operation from Ashad 29, 2073 as Bank of Kathmandu Lumbini Limited. Issuing a press statement it stated that the Former Lumbini Bank Limited’s net profit from the Shrawan 1, 2072 to till Ashad 29, 2073 has been collected in the reserve of the bank. The bank has collected Rs 67.83 arba in deposits and disbursed loan of Rs 60.31 arba by the end of FY 2072/73. At present the bank is rendering services through 74 branches and 66 ATM counters. The bank aims to further its services in the remote areas of the company.