Citizens Bank's 16th Annual General Meeting Approved a 9% Cash Dividend

The 16th Annual General Meeting of Citizens Bank International Limited took place on Friday, Kartik 4, at Amritbhog, Kalikasthan, Dillibazar, Kathmandu, and was presided over by Rajan Singh Bhandari, Chairman of the Bank's Board of Directors.

The annual report of the board of directors for 2078/79 has been discussed and approved on this occasion. The integrated financial statements for 2078/79, including the profit and loss account and cash flow statement, have been considered and accepted. The balance sheet prepared in line with NFRS includes the bank's auditor's report.

Similar to this, the General Meeting unanimously agreed that the distributable profit from the previous fiscal year 2078–79 will be converted into a cash dividend of Rs. 1,27,80,87,661 (including dividend tax) on a paid capital of Rs. 14,200,974,006 at a rate of 9 percent. With this, Citizens Bank has become the first bank to pass the dividend of 2078/79.

The proposal to modify the management deed in accordance with the capital structure 51:49 total shares owned by the promoter shareholders and 51.07:48:93 total shares held by the general shareholders—was also approved by the general meeting.

The assembly's chairman gave the group assurances that the bank's activities would be carried out in accordance with the ideas received from the shareholders and that the bank will make more advancements in the future. Additionally, he stated that the bank has always placed a high priority on corporate governance and compliance and that it is committed to improving and fortifying these aspects of the bank's operations in the days to come. He also expressed his gratitude for the support received from the bank's shareholders and all other interested parties, and he hoped that they would continue to show their support.