Everest, Nepal SBI, Citizen banks to hold AGMs before Dashain

ShareSansar, Sept 18:

Everest Bank Limited, Nepal SBI Bank Limited and Citizen Bank International Limited have decided to hold their Annual General Meetings in the capital ahead of the great national festival of Dashain.

Everest and Nepal SBI will hold their AGM on October 9 while Citizen Bank’s AGM is slated a day earlier, according to in public notices issued today by these commercial banks.

It has come as pleasant news for their shareholders as they will be getting cash dividends offered by these banks just in the wake of the festive season, though the shareholders might have to wait till the end of Dashain to get the bonus shares.

The AGMs will also appoint auditors for each of the banks to audit their financial reports for the current fiscal year.

Everest Bank, which has offered 60 percent dividend (10 percent bonus share and 50 percent cash) is holding its AGM at Lainchour Banquet.

Nepal SBI is organizing its AGM at the Tribhuwan Army Officers’ Club at Bhadrakali.

The bank has offered 12.5 percent bonus shares and 7.5 percent cash dividend.

Similarly, Citizen Bank International, which is offering 15 percent cash dividend, is holding its AGM in Amrit Bhog banquet at Kalikasthan.

Citizen Bank’s AGM is also expected to give full authority to the bank’s Board of Directors to explore the possibility of a merger with other BFIs as recommended by the Nepal Rastra Bank.