Commerz And Trust Bank second AGM

KATHMANDU, JAN 07: 

Commerz and Trust Bank Nepal (CTBN) held it second AGM under the leadership of its chairman Shovakar Neupane on Sunday. The AGM approved the financials of fiscal year 2011-12, and appointed BK Agrawal and Company as the auditor for the current fiscal year. The bank has collected deposits worth Rs 8.20 billion and its loans and advances stand at Rs 7.65 billion. The bank is planning to launch an initial public offering (IPO) of Rs 600 million — 30 per cent of its issued capital — of 600,000 units with a face value of Rs 100 per unit in the near future. CTBN will increase its paid up capital to Rs two billion after the IPO from the current paid up capital of Rs 1.40 billion.

Source: THT