Capital Plan of First Microfinance; 15% bonus & 50% right share in consecutive fiscal years till 2074/75

Nepal Rastra Bank’s Capital Plan issued on Bhadra 8, 2073 had announced Monetary Policy 2073/74. As per the NRB’s Monetary Policy for the FY 2073/74, wholesaler microfinance should maintain its paid up capital up to Rs 60 crore. At present the microfinance company has paid up capital of Rs 23 crore. First Microfinance Development Bank Limited has published its capital plan for the FY 2073/74. The microfinance company proposes to exercise below mentioned options to raise the paid up capital of the company to NPR 60 crore within stipulated time frame. First Microfinance Development Bank will distribute 15 percent bonus share from the net profit it earned in the FY 2072/73 and increase the paid up capital up to Rs 26.45 crore by Ashad end. In the FY 2073/74, the microfinance company will issue 2:1 (50%) right share by the end of Chaitra of FY 2073/74 and its paid up capital will reach to Rs 39.67 crore. After 50% right share issuance, the company will distribute 15 % bonus share in the same fiscal year 2073/74. The paid up capital will reach to Rs 45.62 crore. In FY 2074/75, the microfinance company will again provide 2:1 (50%) right share to its shareholders by the third quarter of the FY 2074/75. With this, its paid up capital will reach to Rs 68.43 crore.