First Microfinance Dev Bank holding AGM today

ShareSansar, September 16:

First Microfinance Development Bank Ltd is holding its 5th annual general meeting today at Amrapali Banquet in Bhatbhateni, Kathmandu.


The Bank is expected to endorse 15.79 percent of cash dividend as proposed by the bank’s board of directors.

Likewise, the AGM is also scheduled to issue 1:1 rights shares to its shareholders.

After the adjustment of the rights shares, the bank’s paid up capital will reach Rs 20 crore from Rs 10 crore.

Similarly, the AGM will also elect five board directors from the promoter shareholders (Group ‘Ka’).

Its net profit by the end of the fourth quarter of the has increased by 49.7 percent to Rs 2.56 crore in the last fiscal year 2070/71, up from Rs 1.71 crore during the same period of the previous fiscal year 2069/70.