Nepal SBI announces over 10 percent dividend for shareholders

KATHMANDU DECEMBER 30: Nepal SBI Bank Limited successfully conducted its 30th Annual General Meeting (AGM) yesterday at Tribhuvan Army Officers’ Club, Bhadrakali. The AGM approved the Report of the Board of Directors, Auditor’s Report together with 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 Financial Statements) for FY 2022/23.

The meeting also approved the Consolidated Financial Statements of the Bank including the Financial Statements of the Bank’s subsidiary i.e. Nepal SBI Merchant Banking Limited for FY 2079/80 (2022/23).

Similarly, it approved the distribution of  10.55 per cent of the paid-up capital as a dividend (Bonus Shares @3.75% and Cash Dividend @ 6.80%) to its shareholders.

Additionally, the resolution to authorise the Board of Directors to enter into the necessary agreement for merger with or to acquire other suitable Bank and Financial Institution and perform all necessary functions required for merger/acquisition was endorsed.