Nepal SBI Bank proposes 28% bonus share & to issue 67,767.87 units FPO share

Nepal SBI Bank’s 398^th Board of Directors (BOD) meeting held on Ashwin 17, 2073 has approved to distribute 28% bonus share and 1.53% cash dividend (for tax purpose) to its shareholders from the net profit it earned in the FY 2072/73. As per the notice published in Nepal Stock Exchange today, the same meeting has decided to issue 67,767.87 units Further Public Offering (FPO) shares in premium price to maintain promoter public share ratio at 70:30. The decision is subjected to approval from Nepal Rastra Bank and the bank’s upcoming AGM. Nepal SBI Bank may also call for Right Share after holding its AGM. In FY 2072/73, Nepal SBI Bank has been able to record an operating profit (before possible loan loss provision) of Rs. 2.17 arba and net profit of Rs. 1.33 arba. The commercial bank has paid up capital of Rs 3.88 arba. After distribution of 28% bonus share, it’s paid up will reach to Rs 4.96 arba. The Bank is rendering its services through 73 business outlets (including 3 Regional Offices once each in Biratnagar, Nepalgunj and Kathmandu) and 678 dedicated team of staff. The Bank has total 86 ATMs in different parts of the country.