Prabhu Bank 12th and 13th AGM on Chaitra 13; endorsing 20% right shares

ShareSansar, March 4

Prabhu Bank Limited (PRVU) is holding its 12th and 13th Annual General Meeting on Chaitra 13 and has also announced the book closure for the same which is from Falgun 27 to Chaitra 13, 2071. The AGM will be held at bank’s head office, Babarmahal, Kathmandu at 10 am.

The AGM will be endorsing 10:2 right shares to its shareholders. Prabhu Bank Limited (PRVU) had decided to increase the right shares for its existing shareholders from 10:1 to 10:2. The bank’s BoD meeting held on Falgun 13 had proposed to change the ratio to 10:2, which is subject to be approved by its AGM on Chaitra 13.

The banks present paid up capital is 3 arba and 20 crore whereas after the issuance of right share it will be 3 arba and 85 core.  

Another main agenda of the meeting is merger and acquisitions with other financial institutions.

Prabhu Bank stated that it earned a profit of Rs 54.02 crore at the end of second quarter of the fiscal year 2070/71. The bank’s net interest income has increased to Rs 69.13 crore from Rs 35.54 crore as compared to the corresponding quarter which is a growth of 94.52 percent.