Laxmi Banks’ AGM approved  Dividend

Kathmandu, Jan 12 . Laxmi Bank’s 20^th Annual General Meeting (AGM) was held today 12^th January 2021 at it’s head office at Hattisar, Kathmandu.

The AGM approved the proposal of distribution of 9% Bonus Shares and 2.5% Cash Dividend on the current paid up capital of the bank. With this, the paid up capital of the bank shall grow up to NPR 10.69 Billion after distribution of the bonus shares approved by the AGM.

The AGM discussed and approved the Directors’ Report and the Financial Statements for the financial year 2019/020 (2076/77). The AGM unanimously elected Mr. Vishawa Karan Jain and Mrs. Swati Roongta as directors of the bank representing public shareholders.

Financial Highlights 2019/20

Laxmi Bank closed the financial year 2019/20 with a balance sheet size of NPR 128 billion and net profit of NPR  1.41 billion. All key financial indicators are well within prudential and regulatory norms. The Bank’s liquidity ratios remained well above the statutory requirement throughout FY 2019/20 reflecting the strength of its asset-liability management.