Sambhu Prasad Acharya appointed as the chairman of Laxmi Bank
The BOD meeting of Laxmi Bank Limited held on Falgun 16, 2072 has appointed Mr. Sambhu Prasad Acharya as the New Chairman of the company after the completion of tenure of Chairman Mr. Rajendra Kumar Khetan and Director Mr. Ratan Lal Sanghai.
Mr. Khetan has served two terms as Chairman of the bank. As per the current regulatory requirement from the Nepal Rastra Bank (NRB) Chairman, Directors, and CEO of BFIs cannot hold the same position for more than two tenure. The tenure of chairman is of four years. Many BFIs are expected to see change in the leadership due to this requirement.
The Bank and Financial Institution Act (Bafia) being proposed in the legislature parliament has removed the current regulatory requirement on the term limit. If Bafia is passed through parliament in current form then the term limit on directors and various management role will be abolished.
Mr. Khetan told ShareSansar, " I will stay among other shareholders and work towards reaching the paid up capital of Rs 10 arba "
The 15th AGM of Laxmi Bank Ltd. held on Magh 28, 2072 endorsed to hike the bank's paid up to Rs 10 arba. The minimum requirement for paid up capital set by the NRB is Rs 8 arba by Ashard 2074. Furthermore, the same AGM endorsed to issue 1:1 right share to shareholder.
Laxmi Bank has earned net profit of Rs. 32.58 crore in the second quarter of the current fiscal year 2072/73. It’s paid up capital remains at Rs. 3.03 arba and after distribution of 100 percent right shares it’s paid up capital will reach Rs 6.06 arba.
