Shangri-La Development 10th AGM endorses 6.30% cash, 15% stock dividend
Wed, Apr 15, 2015 12:00 AM on AGM/Special AGM,
ShareSansar, April 15:
Annual general Meeting of Shangri-la Development Bank held on April 13 has endorsed 6.30% cash dividend and 15% stock dividend to its shareholders from the net profit it earned in the fiscal year 2070/71, according to a press statement issued by the bank.
The development bank amassed total deposits of Rs 7 arba and floated loan and advances of Rs 6 arba by the end of Poush 2071. The bank reported a net profit of Rs 7 crore 67 lakh during the same period.
According to deputy CEO of the bank, Dinesh Thakali, Shangrila Development Bank Limited became a national level bank after completing its merger with Nepalgunj-based Bageshwari Development Bank on Asar 29, 2071.
On Falgun 1, the bank opened its 26th branch in Tandi of Chitwan and also got approval from Nepal Rastra Bank to open four other branches in Jumla, Gulariya of Bardiya, Itahari and Imadol of Lalitpur.
The bank has been providing collateral-free loans to underprivileged people from its branch offices in New Road, Pokhara, Dulegauda, Baglung, and Amarapuri, Nawalparasi.
The bank has been providing services like ATM, Internet banking, mobile banking, ABBS services, while it has also been offering locker facilities at its regional office in Newroad, Pokhara and Dhambojhim Chowk, Nepalgunj.
The other features include loan against gold, 365 days banking service and evening counter services. Shangrila Development has approximately 1,20,000 customers.
