Laxmi Bank convenes 19th Annual General Meeting; makes way for distribution of 15% dividend to shareholders

Mon, Dec 23, 2019 1:22 AM on AGM/Special AGM, Latest,

Laxmi Bank’s 19th Annual General Meeting (AGM) was held on 22nd December 2019, at Kathmandu.

The AGM approved the proposal of distribution of 10% Bonus Shares and 5% Cash Dividend on the current paid up capital of the bank. With this, the paid up capital of the bank shall grow up to NPR 9.81 Billion after distribution of the bonus shares approved by the AGM.

The AGM discussed and approved the Directors’ Report and the Financial Statements for the financial year 2018/019 (2075/76). The AGM also ratified the appointment of directors representing Promoter shareholders in the Board of Directors of the bank.

Financial Highlights 2018/19

Laxmi Bank closed the financial year 2018/19 with a balance sheet size of NPR 106 billion and net profit of NPR  1.59 billion. All key financial indicators are well within prudential and regulatory norms. The Bank’s liquidity ratios remained well above the statutory requirement throughout FY 2018/19 reflecting the strength of its asset-liability management.