Nepal Bangladesh Bank announces 80% right share; Paid up capital to reach Rs 5.47 arba

Nepal Bangladesh Bank Limited (NBB) has decided to distribute 10:8 (80%) right share to its existing shareholders. The BOD meeting of the company held on Jestha 28, 2073 has proposed 80 percent right shares to its existing shareholders. Nepal Bangladesh Bank is issuing right shares to to meet the paid up capital requirement set by Nepal Rastra Bank.  Its paid up captal stand at Rs 3.039 arba and after issuance of 80 percent right share its paid up capital will reach Rs 5.47 arba. The decision is subject to approval from bank’s upcoming Annual General Meeting (AGM). Nepal Bangladesh Bank had distributed 25 percent bonus share to their shareholders from the profit it earned in the fiscal year 2071/72. The bank has earned net profit of Rs 70 crore in the third quarter of the ongoing fiscal year.  Its EPS (annualized) stands at Rs 31, net worth per share at Rs 184 and P/E ratio is 18 times.