Kumari Bank announces 21% bonus share; paid up to reach Rs. 3.26 arba

Kumari Bank Limited (KBL) has decided to distribute 21 percent bonus share to its shareholders. The BOD meeting held on Poush 19, 2073 has proposed 21 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 commercial bank stands at Rs. 2.69 arba. It has also proposed 1.10% cash dividend (for tax purpose) to its shareholders. After the issuance of this bonus share, the paid up of the bank will reach 3.26 arba. Kumari Bank had also endorsed a further 50% right share from its Special General Meeting conducted this year, which was recently added to SEBON's pipeline. Kumari Bank is in the process of acquiring 4 other BFIs: Kasthamandap Development Bank, Kakrebihar Bikas Bank, Mahakali Bikas Bank, and Paschimanchal Finance. Last year, Kumari Bank Limited had distributed 11% bonus share to its shareholders from the profit it made in 2071/72 FY.