STOCK WATCH: Last day to clinch 10% bonus share of Manaslu Bikas Bank

ShareSansar, October 15:

Today is the last day to get hold of 10 percent bonus share and cash dividend for tax purpose Manaslu Bikas Bank Limited has proposed to its shareholders from the net profit it posted in the last fiscal year 2071/72.

The development bank based in Gorkha has announced book closure from tomorrow for its Annual General Meeting, which means that only those who hold the shares of the company till today will be entitled to the dividend.

It is an impressive dividend considering the fact that it is a new development bank, which had floated its Initial Public Offering (IPO) just a year ago.

Manaslu had reported a massive profit growth of 294 percent by the end of the fourth quarter of the last fiscal year 2070/71

According to the unaudited financial report for the fourth quarter, the development bank has stated that its profit has risen from merely Rs 38.31 lakh to Rs 1.51 crore in the previous fiscal year 2069/70.

Owing to sound business, its net interest income has risen to Rs 4.08 crore up from Rs 2.10 crore.

It has managed such an impressive profit despite provisioning Rs 31.87 lakh for possible loss at the end of the fourth quarter. It also has reported no non-performing loan in the last fiscal year as in the previous one.