Prabhu Bank 12th and 13th AGM today; endorsing 20% right shares
Fri, Mar 27, 2015 12:00 AM on AGM/Special AGM,
ShareSansar, March 27:
Prabhu Bank Limited (PRVU) is holding its 12th and 13th Annual General Meeting today (Chaitra 13). The AGM will be held at the bank’s head office, Babarmahal, Kathmandu at 10 am.
The AGM is expected to endorse 10:2 right shares proposed by the BoD of the bank. Earlier, the bank had decided to offer right shares at the ratio of 10:1. But the bank’s BoD meeting held on Falgun 13 increased the offer to 10:2, which is subject to the AGM’s approval today.
The bank’s present paid up capital is Rs 3 arba and 20 crore whereas after the issuance of right shares it will reach Rs 3 arba and 85 core.
Other main agendas of the AGM include allowing the bank to seek out more BFIs for merger and acquisition, financial highlights of 2069/70 & 2070/71, appointment of auditor and the election of BoD.
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. For the same period, the bank’s net interest income increased by 94.52% to Rs 69.13 crore.
