Bonus share of Nepal SBI bank got endorsed, right share to be issued with premium

Kathmandu February 8- AGM of Nepal SBI Bank held on Sunday has endorsed the 27% bonus share proposal to be distributed to shareholders. Bank is distributing the bonus share from its net profit earned during previous FY.

Bank had earned Rs. 1 billion 65.4 million net profit during the last FY. After distribution of bonus share, bank's paid up capital will reach a new height of Rs. 3 billion 870 million.

Similarly, AGM of the bank has also proposed to issue right shares worth of Rs. 2 billion 600 million. The same AGM has also taken decision regarding founding a separate institution in order to carry out the merchant banking business.