AGM of Garima Development Bank endorsed 20% dividend

Kaski January 21- 9^th AGM of Garima development bank having its head office in Pokhara, has endorsed 20% bonus share proposal.

AGM has also endorsed the proposal to increase authorized capital to Rs. 3 billion. AGM also granted authority to BOD to forward merger process as per CEO Govind Prasad Dhakal. Existing paid up capital of Rs. 711 million will reach up to Rs. 853.2 million after distribution of bonus share.

Earlier, Garima development bank and Nilgiri Development bank located in Myagdi, Beni has agreed to merge with each other.  AGM elected Dilip Prasad Khaan, Chandra Kanta Baral, Shyam Prasad Basyal and Hari Kumar Shrestha from Promoter's shareholders and Sanjib Dhakal, Keshav Raj Dhakal and Bimal Pandey from ordinary shareholders to BOD.

Newly elected BOD meeting held after AGM, elected Punas Khaan as a chairman of BOD.