Bank of Kathmandu signs agreement with Cashway Money Transfer

Bank of Kathmandu Limited has signed an agreement with Cashway Money Transfer Pvt. Limited yesterday (June 8, 2017). Issuing a press statement, it stated that, Mr. Ritesh Lamichhane- Head Research, Product Development and Marketing of Bank of Kathmandu and Mr. Shailendra Upadhyaya, Chief Executive Officer of Cashway Money Transfer Pvt. Ltd signed on the agreement. Bank of Kathmandu will be  issuing Further Public Offering (FPO) of 62,08,132 units promoter shares at a premium price and maintain its promoter – public shareholding structure at 51:49 (general public also eligible to apply for promoter shares) It’s paid up capital after capitalization of 23% bonus stands at Rs 5.62 arba. After the issuance of 62.08 lakh units FPO shares for promoters, its paid up capital will reach Rs 6.24 arba. As per NRB’s directive for all commercial banks to increase their paid up capital to a minimum of Rs 8 arba by the end of FY 2073/74, BOKL will need to issue a further capital hike of around 28%.