Vibor Bikas Bank holds AGM

KATHMANDU, APR 13: 

Vibor Bikas Bank held its 4th annual general meeting (AGM) on Thursday. The chairman of the board of directors Madhav Prasad Ghimire presented the financial report of fiscal year 2010-11 at the AGM. Ghimire highlighted the bank’s progress story and forwarded the list of activities to be carried out during the current fiscal year. The chairman also highlighted the agreed merger plan to be carried out with Jyoti Group’s sister concern Bhajuratna Finance and Savings Co. Bhajuratna Finance and Savings Co has agreed to invest Rs 20 million by buying the promoter shares of Vibor. The bank plans to complete the merger process within the current fiscal year and has plans to raise its issued capital to Rs 1.45 billion. 

Source: THT