Sewa Bikas Bank AGM today; to endorse 18% bonus share

Sewa Bikas Bank Limited (SEWA) is convening its 9th Annual General Meeting (AGM) today (Poush 29, 2072). The AGM is going to be held at Rupandehi Byapar Sangh Meeting Hall, Butwal, Rupandehi at 11:00 AM. Main agenda of the AGM are:

• To endorse 18 percent bonus share from the net profit it earned from the fiscal year 2071/72.
• Also after issuance of bonus to increase issued capital and paid up capital and amend the article of association accordingly.
• Authorize BOD to initiate the merger/acquisition process with other financial institutions.
• To amend the article of association and memorandum of association as directed by registrar officer or the Nepal Rastra Bank.

  Other Agendas of the AGM include financial highlights of 2071/72, to endorse 0.94% cash dividend for tax purpose, appointment of auditor and to elect 4 BOD members from promoter shareholders group. Sewa Bikas Bank has earned a net profit of Rs 1.24 crore in the current fiscal year. It’s paid up capital remains at Rs. 36.06crore. After 18 percent bonus share it’s paid up capital will rise to Rs. 42.55crore.