Prabhu Bank proposes increase in right shares; hiked 10:2 ratio is subject to AGM’s approval

ShareSansar, February 26:

Prabhu Bank Limited (PRVU) has decided to increase the right shares for its existing shareholders from 10:1 to 10:2.

The proposal to issue 10:1 right shares was formally approved by bank’s special general meeting held on Asoj 25, 2071. However, the bank’s BoD meeting held on Falgun 13 has proposed to change the ratio to 10:2, which is subject to approval from its upcoming AGM.

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.

Prabhu Bank’s shares last traded price as on Feb 25 is Rs 335.