Miteri Dev Bank proposes 31.48% bonus share; paid-up capital to reach Rs 50 crore

Miteri Development Bank Limited (MDB) has proposed 31.48% bonus share to its shareholders from the profit it earned in the last FY 2073/74. As per the notice published in NEPSE today, the bank will issue bonus share worth Rs 11.97 crore and cash dividend worth Rs 63 lakh (for tax purpose). The issuance of bonus share is subjected to approval from Nepal Rastra Bank and its upcoming AGM. MDB’s current paid-up capital stands at Rs 38.02 crore and after issuing the bonus share, its paid-up capital will reach Rs 50 crore. As a 1-3 district level development bank, MDB will have reached NRB’s minimum capital requirement of Rs 50 crore. Miteri Development Bank had earned net profit of Rs 12.11 crore in the fourth quarter FY 2073/74 as per unaudited report.