Siddhartha Bank to approve 20% bonus share; 14th AGM today

Siddhartha Bank Limited (SBL) is convening its 14th Annual General Meeting (AGM) today (Poush 20, 2072). The AGM is going to be held at Trade Tower, Second Floor, Thapathali, Kathmandu. Main agendas of the AGM are:

• To approve 20 percent bonus share and 1.05 percent cash dividend for the tax purpose from the net profit it earned from the fiscal year 2071/72
• To amend the article of association, memorandum of association to increase the authorized capital, issued capital and paid up capital.
• Authorize BOD to initiate the acquisition process with other financial institutions.

Other Agendas of the AGM include financial highlights of 2071/72 and appointment of auditor. Only those shareholders owning shares till Mangsir 29 is entitled to the dividend of the company. The register of their shareholders has been closed from Poush 1, 2072 for the purpose of its AGM. Siddhartha Bank Limited has posted net profit increment of 18.66% in the 1^st quarter of the fiscal year 2072/73.The commercial bank has posted a net profit of Rs.17.57crore in Q1 up from Rs.14.81 crore in the corresponding quarter of the previous fiscal year.