Nirdhan Uthan Bank to issue bonus share worth of Rs. 160 million

Kathmandu December 27- Nirdhan Uthan Bank Ltd announced that the bank has earned net profit worth of Rs. 44 million. Dividend proposal submitted by Chairman of the bank, Ganesh bahadur Thapa has been endorsed by the AGM on Saturday. As per the proposal of BOD, bank has paid up capital of Rs. 336 million till last FY.

Similarly, BOD member Achyut Joshi informed that AGM also approved the special proposal to increase authorized capital by Rs. 500 million to Rs. 1 billion. BOD also endorsed to distribute bonus share worth of Rs. 160 million as per their paid up capital, as well as giving authorization to BOD to amend administration letter.

Bank has been advancing collateral less loans to women of poor families in rural area under collective responsibility to improve economic and social status. Bank has plan to reach 273 thousands customers in current FY, stated Janardan Dev Pant Chief Executive Officer of the bank.