Cosmos Development Bank endorses 23.60% bonus from its 6th AGM

Cosmos Development Bank’s 6^th AGM held on Poush 27, 2073 has endorsed 23.60% stock dividend to its shareholders. The AGM has also endorsed cash dividend worth Rs. 6.24 lakh (for tax purpose) to its shareholders. The bank has been able to collect deposits of over Rs 63 crore and disburse loans of over Rs 49 crore in the FY 2072/73. Dr. Teknath Dhakal, chairman of the development bank, inaugurated the meeting. The bank intends to dilute a further 9% shareholding of promoters and maintain promoter shareholding at 51%. The development bank has also signed an MOU with Shangrila Development Bank for acquisition. Apart from its head office in Gorkha, the development bank has been providing services from 3 branch offices and 1 extension counter.