Gandaki Bikas Bank conducts 10th AGM; elects 6 BODs and endorses 19.31% bonus shares

Gandaki Bikas Bank, in its 10th AGM, has endorsed the decision of its board to provide 19.31% bonus shares to its share holders from the profit it had made in the FY 2073-74. With the capitalization of the bonus shares, the development bank will have paid value of Rs 2.75 arba making it the largest development bank in terms of paid up value.

The AGM has also unanimously elected 6 BODs for the coming 4 years. Mr. Padhya Prashad Paudel, Mr. Sushil Gauchan and Mr. Kishor Ojha have been appointed as BODs from the promoters’ group while Mr. Narayan Bahadur Baniya, Mr. Krishna Bahadur Thapa Chhetri and Mr. Basudev Tripathi from the public shareholders.

The development bank currently has 59 branches and is mulling to open 18 more branches in near future.