Tue, Jan 22, 2019 12:11 PM
Similar to the Class A and B banks, Microfinance Companies are also under the purview of Nepal Rastra Bank (NRB). So they are also required to conduct their AGM within 6 months of the completion of the Fiscal Year i.e. by the end of Poush.
When it comes to conducting AGM on time, Microfinance Companies seem to do better than the commercial bank (LINK) and development banks (LINK). Out of the total 40 listed Microfinance companies, only 8 are yet to convene their Annual General Meeting (AGM). Similarly, out of those 8, 5 haven't endorsed any dividend yet. The others have already endorsed the dividend as mentioned in the table.
Apart from the companies mentioned in the table above, there are 6 more microfinance companies that will be issuing IPO soon. Asha Laghubitta Bittiya Sanstha has been already approved by SEBON. Similarly, Ganapati Microfinance Bittiya Sanstha, Gurans Laghubitta Bittiya Sanstha, Swabhimaan Mirofinance Bittiya Sanstha, Janasewi Laghubitta Bittiya Sanstha and Sparsha Laghubitta Bittiya Sanstha are in SEBON's IPO pipeline.
According to the report published by Nepal Rastra Bank (NRB), there are 71 licensed Microfinance companies as of Mangsir end. Out of the 71, 40 companies are already listed in NEPSE, which means we can expect 31 more companies to issue IPO in the near future.