Siddhartha Bank to convene 14th AGM on Poush 20; to endorse 20% bonus share

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

• To endorse 20 percent bonus share from the net profit it earned from the fiscal year 2071/72
• To endorse 1.05% cash dividend including for the tax purpose.
• 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, appointment of auditor. Only those shareholders owning shares till Mangsir 29 will be entitled to the dividend of the company. The register of their shareholders will remain close Poush 1, 2072 for the purpose of its upcoming (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.