Book closure for AGM & 17.1% bonus share of Deva Bikas Bank on Kartik 23

Deva Bikas Bank Limited (DBBL) has set book closure date for the upcoming Annual General Meeting (AGM). As per the notice published in NEPSE today, the book closure date for the AGM has been set from Kartik 23 till Kartik 29, 2074. Thus only those shareholders owning their shares till one day ahead of the book closure date, i.e. till Kartik 22, 2074 are eligible to participate in the AGM and proposed dividends. DBBL has announced 17.1% bonus shares and 0.9 percent cash dividend for tax purpose to its shareholders to its shareholders from the net profit of FY 2073/74. This bonus shares will be endorsed from the upcoming AGM. Deva Bikas Bank has earned net profit of Rs 28.94 crore in the fourth quarter of the FY 2073/74. Its paid up capital currently stand at Rs 1.44 arba and after issuance of 17.1% bonus share its capital will reach Rs 1.69 arba. Recently, DBBL has signed an agreement to acquire Sarlahi-based Sahara Bikas Bank Limited (SHBL). With this acquisition, Deva Bikas Bank is now acquiring a total of 3 BFIs. Deva Bikas Bank is also under process for acquiring Union Finance and Sajha Bikas Bank. After acquiring Union and Sajha, Deva Bikas Bank, as a national-level development bank, should increase its paid up capital to Rs 2.50 arba by the end of FY 2073/74.