Western Development Bank's 12th AGM on Ashad 13; to endorse 17.41% bonus

The 12^th AGM for Western Development Bank has been fixed as per the decision passed from the 243^rd Board Meeting held on Jestha 09, 2074. The details of the AGM are:

Date: Ashad 13, 2075 (Wednesday)

         June 27, 2018

Time: 11:30 AM

Venue: Hotel Mala Inn, Conference Hall – Ghorahi 15, Dang

The agendas of the AGM are:

1. To endorse 17.41% bonus share ( Rs 7,47,56,160) and 0.92% cash dividend (Rs. 39,34,534.75) for tax purpose to its shareholders from the profit it earned in the fiscal year 2073/74.
2. To endorse appointment of auditor for FY 2074/75 and the value of compensation.
3. To elect 3 directors representing promoter shareholders and 3 directors representing ordinary shareholders.
4. To amend article of association and memorandum of association as per directed by registrar officer or Nepal Rastra Bank.

Other agendas of the AGM include financial highlights of the FY 2073/74 for Western Development Bank and Namaste Bittiya Sanstha. The total paid-up capital of Western Development Bank (including the merged entity’s paid-up) as of Ashad end 2074 stands at Rs 42,93,12,000.