Garima Bikas Bank proposes 20% bonus shares

Garima Bikas Bank Limited (GBBL) has decided to distribute 20 percent bonus share to its shareholders. The 185^th BOD meeting held on Poush 20, 2073 has proposed 20 percent bonus share to its shareholders from the profit it earned in the last fiscal year 2072/73. However, the decision is subjected to approval from Nepal Rastra Bank (NRB) and bank’s upcoming Annual General Meeting (AGM). The paid up capital of the development bank stands at Rs. 1.08 arba. After the issuance of this bonus share, the paid up will reach Rs. 1.29 arba. Garima Bikas Bank had merged with Subechha Bikas Bank with joint operation from September 20, 2016. It earned a net profit of Rs. 4.68 crore in the first quarter of the fiscal year 2073/74.