Nepal SBI Bank Limited has successfully conducted its 28th Annual General Meeting today 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 2077/78 (2020/21).
The meeting resolved to approve distribution of Dividend @ 5.31% (Bonus Shares @ 3.50% and Cash Dividend @ 1.81%) to its shareholders.
The meeting elected Ms. Apsara Upreti as a Director unopposed, representing the general public shareholders.
The meeting also approved the Audited Consolidated Financial Statements of the Bank including the Audited Financial Statements of the Bank's subsidiary i.e. Nepal SBI Merchant Banking Limited for FY 2077/78 (2020/21).
The meeting has appointed M/s SAR Associates, Chartered Accountants as Statutory Auditors for the FY 2078/79(2021/22) and ratified their fees. The meeting has also approved amendment proposed under various Clauses/Articles of Memorandum of Association and Articles of Association of the Bank.
The meeting has also approved the resolution to Authorize the Board of Directors to enter into necessary MOU/Agreement for merger with or to acquire other suitable Bank and Financial Institution as well as to perform all necessary functions required for merger/acquisition.