14th AGM of Prabhu Bank concluded on Thursday, announces 5 years strategy

Kathmandu January 22- Prabhu Bank concluded its 14^th AGM in the leadership of BOD chairman Devi Prakash Bhattachan on Thursday. AGM has endorsed annual report of BOD, balance sheet year and profit and loss account of last fiscal. Along with all these financial report, AGM has also announced 5 year strategy for the expansion of the bank.

 AGM has granted authorization to BOD to forward merger, acquisition and acquirement of other banks and financial institutions in order to increase its paid up capital.  It has also granted authority to BOD to appoint surveyor to value its current and fixed assets for trading as well as to forward MoU regarding merger and acquisition process.

Earlier, NRB has endorsed merger of Grand Bank with Prabhu Bank.