Century Commercial Bank 4th AGM elects 3 new BoD members from public shareholders

ShareSansar, March 13:

The 4th Annual General Meeting of Century Commercial Bank Limited (CCBL) AGM held at Army Officers Club, Bhadrakali on March 12 has elected Avishek Bajracharya, Sunil Kumar Neupane and Rajesh Shrestha as new members of its board.  

One of the main agenda of the meeting was election three new BOD members representing public shareholders. The bank has five members in the BOD, four representing promoters and one from the Nepal Rastra Bank. After the election of 3 members Century Bank’s BOD will have 8 members.  

Altogether four people had filed nominations for the post of BoD. The election was done on the basis of voting among shareholders.

The AGM also endorsed 9.417% dividend – 6% bonus share and 3.47% cash dividend.

The others agendas at the meeting will be the financial highlights of 2070/71, the appointment of auditor, increment of capital and possible merger and acquisitions with other financial institutions.

Century bank earned Rs 10.45 crore as operating profit in the fiscal year 2070/71. The bank has deposits of Rs 23 arba and loans of Rs 19.70 arba.