Chhimek to dole out 25% bonus shares

KATHMANDU, DEC 09: 

Chhimek Laghubitta Bikas Bank (CLBB), a microfinance institution, is distributing 25 percent bonus shares and 17.10% cash dividend to its shareholders from the profit earned in 2011/12. 

The microfinance institution made this announcement after its 11th annual general meeting (AGM) held in Hetauda on Friday took a decision to this effect. 

“After the distribution of bonus shares, CLBB´s paid up capital will touch Rs 157.616 million,” the institution said, issuing a press release on Friday. 

CBBL´s 19.46 percent shares are held by Chhimek Social Service Institution, 12 percent stake each is held each by Himalayan Bank, Nabil Bank and Bank of Kathmandu, 14.54 percent shares are owned by private promoters and 30 percent of the shares have been issued to public. 

The 11th AGM of the micro-finance institution also elected Bishwamitra Shrestha and Rishi Raj Joshi as new directors to its board from among public shareholders. 

Established with an objective to transform socio-economic lives of the poor and underprivileged women through micro-finance services, CLBB is presently operating with 57 branches in 31 districts. 

“The institution has also adopted a plan to extend its services to remote and hilly areas of the country,” reads the release.

Source: Republica