NRB approves 29.20% stock dividend of Om Dev. Bank

Pokhara based Om Development Bank Limited (ODBL) had proposed 29.20% bonus share to its shareholders which has been approved by Nepal Rastra Bank (NRB). The bank will approve the bonus share in its upcoming Annual General Meeting (AGM). Om Development Bank’s paid up capital will reach to Rs 1.36 arba after 29.20% bonus share distribution. Also, the development bank has signed Memorandum of Understanding with Manaslu Bikas Bank for merger process. After the merger with Manaslu Nikas Bank, its paid up capital will reach to Rs 1.67 arba. Bishwo Mohan Adhikari, CEO of OM Dev Bank said, ‘Om Dev. Bank will issue right within the FY 2073/74 and propose bonus share from the net profit of the FY 2073/74 to increase its paid up capital to Rs 2.50 arba.’