Nepal SBI Bank holds 25th AGM; Approves Distribution of Dividend @ 15.79%
Tue, Jan 15, 2019 6:24 AM on AGM/Special AGM, Dividend, Bonus & Rights, Latest, Stock Market,
Nepal SBI Bank Limited successfully held its 25th Annual General Meeting yesterday at Tribhuvan Army Officers' Club, Bhadrakali, Kathmandu. The AGM approved the Directors Report, Annual Financial statements (Statement of Financial Position, Statements of Profit or Loss, Statement of Comprehensive Income, Statement of Cash Flow and all the related schedules and notes to the Annual Report) for FY 2074/75 (2017/18).
During the FY 2074/75 (2017/18) the Bank has been able to record an operating profit of Rs.276.17 Crore and net profit of Rs.202.35 Crore.
The meeting resolved to approve distribution of Dividend @ 15.79% (Bonus Shares @5% and Cash Dividend @ 10.79%) to its shareholders.
The meeting also approved the Consolidated Balance Sheet of the Bank including the Audited Financial Statements of the Bank's subsidiary i.e. Nepal SBI Merchant Banking Limited for FY 2074/75 (2017-18).
The meeting has appointed Statutory Auditors M/s PKF T.R. Upadhayay & Co., Chartered Accountants for the FY2075/76(2018/19) and ratified their fees. The meeting has also approved amendment proposed under various Sections/Articles of Memorandum and Articles of Association of the Bank.
