The bank is conducting its 11th AGM on June 9 in Nepal Pragya Pratisthan, Kamaladi at 10:00 AM. The meeting is scheduled to endorse a proposal of distributing 16 percent stock dividend.
The bank will delegate authority to BOD to seek a new partner for acquisition or merger after the failure of the acquisition process with Om Development Bank. The bank is bound to find a new merger/acquisition partner due to NRB direction.
The central bank has directed the bank to find a suitable new merger/acquisition partner within three months.
Presently, the bank has paid-up capital of Rs 8.03 billion that will reach Rs 9.31 billion after the bonus share distribution.
