SBI Bank Distribution 16.84% Dividend 

Kathmandu, Dec 15. Nepal SBI Bank Limited successfully held its 26^th Annual General Meeting today at Tribhuvan Army Officers’ Club, Bhadrakali, Kathmandu. The AGM approved the Directors Report, Annual Financial statements (Statement of Financial Position, Statements of Profit or Loss, Statement of Comprehensive Income, Statement of Cash Flow and all the related schedules and notes to the Annual Report) for FY 2075/76 (2018/19).

During the FY 2075/76 (2018/19) the Bank has been able to record an operating profit of Rs. 312.39 Crore and net profit of Rs. 229.25 Crore.

The meeting resolved to approve distribution of Dividend @ 16.84% (Bonus Shares @ 6% and Cash Dividend @ 10.84%) to its shareholders.

The meeting also approved the Consolidated Balance Sheet of the Bank including the Audited Financial Statements of the Bank’s subsidiary i.e. Nepal SBI Merchant Banking Limited for FY 2075/76 (2018-19).

The meeting has appointed Statutory Auditors M/s PKF T.R. Upadhayay & Co., Chartered Accountants for the FY2076/77(2019/20) and ratified their fees. The meeting has also approved amendment proposed under various Sections/Articles of Memorandum and Articles of Association of the Bank.