Citizens Bank International to Issue Rs 2 Billion in Preference Shares

Citizens Bank International Limited has informed Nepal Stock Exchange that it plans to issue preference shares worth Rs 2 billion, following a decision made at its eighth Special General Meeting held on Ashadh 3, 2083.

The bank will issue 7.5% Citizens Perpetual Non-Cumulative Preference Shares, priced at Rs 1000 per share and totalling Rs 2,00,00,00,000 (two billion rupees). The issuance will take place within the framework set by Nepal Rastra Bank and subject to any other applicable conditions already in place.

The bank has stated that it will proceed with formally issuing these shares after receiving approval from the relevant regulatory authority.