Commercial Banks AGM Status of FY 2073/74; 40% of A class banks yet to conduct their last year AGM

• Ruchi Rayamajhi

As per the Companies Act, 2063, a company should conduct its AGM within 6 months of the completion of the fiscal year, i.e. within Poush end of the next fiscal year. As such, the commercial banks of Nepal should conduct their AGM for the FY 2073/74 within 30 Poush, 2074. However, only 17 commercial banks among the 28 commercial banks existing in Nepal have conducted/announced their AGM till date.  The list of banks that have conducted/announced their AGM is given below:

S.No	Symbol	Company	AGM	Venue/Time	Book Closure Date	AGM Date	Agenda
1	ADBL	Agricultural Development Bank Limited	11th	Agricultural Devt Bank Ltd, Bode, Bhaktapur (11:00 AM)	1/29/2018	2/12/2018	Financial Highlight 2073/74, Appointment of Auditor, 20% Bonus Share and 1.053% Cash Dividend, Increment of Capital
2	CZBIL	Citizens Bank International Limited	11th	Amritbhog Kalikasthan, Dillibazar, Kathmandu (11:00 AM)	8/28/2017	9/25/2017	Financial Highlight 2073/74, Appointment of Auditor, 0.85% Cash Dividend and 16% Bonus Share, Election
3	EBL	Everest Bank Limited	23rd	Lainchour Banquet, Lainchour, Kathmandu (11:00 AM)	12/28/2017	1/12/2018	Financial Highlight 2073/74, Appointment of Auditor, 33% Bonus Share and 1.74% Cash Dividend, Election of BOD, Increment of Capital
4	GBIME	Global IME Bank Limited	11th	Karki Banquet Pvt Ltd, Babarmahal, Kathmandu (11:00 AM)	10/25/2017	11/9/2017	Financial Highlight 2073/74, Appointment of Auditor, 10% Bonus Share and 10% Cash Dividend, Increment of Capital
5	HBL	Himalayan Bank Limited	25th	Karki Banquet, Maitighar, Kathmandu (11:00 AM)	12/26/2017	1/12/2018	Financial Highlight 2073/74, Appointment of Auditor, 25% Bonus Share and 1.31% Cash Dividend, Election of BOD
6	JBNL	Janata Bank Nepal Limited	8th	Amritbhog Kalikasthan, Dillibazar, Kathmandu (11:00 AM)	12/26/2017	1/12/2018	Financial Highlight 2073/74, Appointment of Auditor, 14.40% Bonus Share, Election of BOD, Increment of Capital, Merger
7	LBL	Laxmi Bank Limited	17th	Agrawal Building, Kamalpokhari, Kathmandu (2:00 PM)	11/27/2017	12/14/2017	Financial Highlight 2073/74, Appointment of Auditor, 10% Bonus Share and 0.53% Cash Dividend, Increment of Capital, Merger
8	MBL	Machhapuchchhre Bank Limited	19th	Hotel Pokhara Grand, Pardi, Pokhara (11:00 AM)	11/17/2017	12/1/2017	Financial Highlight 2073/74, Appointment of Auditor, 9% Bonus Share and 6% Cash Dividend, Increment of Capital
9	NABIL	Nabil Bank Limited	33rd	City Hall, Kamadi, Kathmandu (11:00 AM)	9/12/2017	9/26/2017	Financial Highlight 2073/74, Appointment of Auditor, 18% Cash Dividend and 30% Bonus Share, Increment of Capital
10	NBB	Nepal Bangladesh Bank Limited	23rd	City Hall, Exhibition Road, Kathmandu (11:00 AM)	10/30/2017	11/19/2017	Financial Highlight 2073/74, Appointment of Auditor, 12% Bonus Share and 3.79% Cash Dividend, Increment of Capital, Election of BOD
11	NIB	Nepal Investment Bank Limited	31st	City Hall, Kamadi, Kathmandu (10:00 AM)	10/4/2017	10/24/2017	Financial Highlight 2073/74, Appointment of Auditor, 25% Cash Dividend and 15% Bonus Share, Election of BOD, Increment of Capital
12	SBI	Nepal SBI Bank Limited	24th	Tribhuvan Army Officers Club, Bhadrakali, Kathmandu (11:00 AM)	12/15/2017	1/3/2018	Financial Highlight 2073/74, Appointment of Auditor, 15.42% Bonus Share and 0.81% Cash Dividend, Election of BOD
13	NICA	NIC Asia Bank Limited	20th	Karki Banquet Pvt Ltd, Babarmahal, Kathmandu (9:00 AM)	9/1/2017	9/15/2017	Financial Highlight 2073/74, Appointment of Auditor, Election of BOD, 20% Bonus and 1.05% Cash Dividend, Increment of Capital
14	PCBL	Prime Commercial Bank Limited	10th	Tribhuvan Army Officers Club, Tundikhel, Kathmandu (11:00 AM)	12/20/2017	1/9/2018	Financial Highlight 2073/74, Appointment of Auditor, 27% Bonus Share, Election of BOD, Increment of Capital
15	SANIMA	Sanima Bank Limited	13th	Naxal Banquet, Naxal, Kathmandu (11:00 AM)	9/22/2017	10/15/2017	Financial Highlight 2073/74, Appointment of Auditor, 16% Bonus Share, Election of BOD
16	SCB	Standard Chartered Bank Nepal Limited	31st	Army Officers Club, Bhadrakali, Kathmandu (1:00 PM)	12/31/2017	1/10/2018	Financial Highlight 2073/74, Appointment of Auditor, 100% Bonus Share and 5.26% Cash Dividend, Election of BOD, Increment of Capital
17	SRBL	Sunrise Bank Limited	10th	Amritbhog Caters, Kalikasthan, Dillibazar, Kathmandu (11:00 AM)	10/30/2017	12/18/2017	Financial Highlight 2073/74, Appointment of Auditor, 15% Bonus Share, Increment of Capital, Election of BOD

Even is its mid-Magh already, the following commercial banks are yet to conduct AGM:

S.No.	Commercial Banks
1.	Bank of Kathmandu Ltd.
2.	Century Commercial Bank Ltd.
3.	Civil Bank Ltd.
4.	Kumari Bank Ltd.
5.	Mega Bank Ltd.
6.	Nepal Bank Ltd.
7.	Nepal Commercial and Credit Bank Ltd.
8.	NMB Bank Ltd.
9.	Prabhu Bank Ltd.
10.	Rastriya Banijya Bank Ltd.
11.	Siddhartha Bank Ltd.

  Among the banks that have not conducted AGM till date, the following banks have proposed dividend:

S.No.	Commercial Banks	Proposed Dividend
		Bonus Share	Cash Dividend	Total Dividend
1.	Mega Bank Ltd.	9.45%	0	9.45%
2.	Siddhartha Bank Ltd.	14%	0	14%

  The reasons 11 commercial banks that have not conducted/announced AGM for the FY 2073/74 is due to various reasons such as being in merger process, FPO being in pipeline and so on. Hopefully, they call their AGM soon in near future and endorse dividend and other major agenda for the benefit of respective shareholders.