Last day to secure 28% & 20% bonus share of Nepal SBI Bank & Garima Bikas Bank respectively

Today is the last day to secure 28% bonus share of Nepal SBI Bank Limited (SBI) for the FY 2072/73. Only those shares registered one trading day ahead of the book closure date, i.e Magh 20, 2073 will be entitled to the bonus share of the company. The register of their shareholders will be closed from Magh 23, 2073 till Magh 27, 2073 for the purpose of its AGM. Nepal SBI Bank Limited has earned net profit of Rs 35.44 crore in the first quarter of the fiscal year 2073/74 as per unaudited report. The bank had recently issued 67,767.87 units FPO at Rs 971 per share to general public to make promoter public share holding pattern to 70:30 respectively. The issued FPO is due for allotment. It has further proposed 40% right to its shareholders. After the capitalization of the recently floated FPO, 28% stock dividend, and 40% right, its paid up capital will reach Rs 6.97 arba. Based on NRB’s requirement to hike its paid up capital to Rs 8 arba by the end of this FY 2073/74, it needs to further increase its capital by around 14.25%. Also, today is the last day to clinch 20% bonus share of Garima Bikas Bank Limited (GBBL). Only those shares registered one trading day ahead of the book closure date, i.e today (Magh 20, 2073) will be entitled to the bonus share of the company. The register of their shareholders will be closed from tomorrow (Magh 21, 2073) till Falgun 6, 2073 till for the purpose of its AGM. The bank has earned net profit of Rs 15.95 crore in the second quarter of the FY 2073/74. It will also endorse a further 70% right share. After distribution of 20% bonus share, its paid up capital will reach Rs 1.29 arba. Finally, after the issuance of 70% right shares, its paid up capital will reach Rs 2.20 arba. As per NRB’s directive for all national level development banks to hike their paid up capital to Rs 2.50 arba by the end of FY 2073/74, it will need to further increase its capital by 14% against an EPS of Rs 29.53.