Kumari Bank's fourteenth AGM concluded

Kumari Bank's fourteenth AGM concluded

Nov. 23, 2014, 5:45 p.m.

Kumari Bank’s 14th annual general meeting approved thirty three percent bonus share

The 14th Annual General Meeting (AGM) of Kumari Bank Limited held on Wednesday, 12th November 2014 approved 33% bonus share from its Paid-Up Capital and 1.74% Cash Dividend for Tax on Bonus Share as proposed by the Board of Directors.

While talking about the overall progress of the Bank, the Chairman, Noor Pratap J.B. Rana stated that the Bank has been continually growing in the financial business. Analyzing the financial statement of review period, the Bank’s balance sheet size has reached Rs. 31.02 billion. During the review period, the Bank has had growth in loans and deposits which reached NPR 22 billion and NPR 27 billion which is a growth of 13.36% and 8.93% respectively. The Net Profit of the bank was increased by 17.23%.

From the meeting, the chairman assured the Bank’s commitment in continuously providing quality products and services to its customers, special focus in good corporate governance, and overall progress and growth of the Bank. The bank has added 6 new branches in remote and semi-urban parts of the country and is opening 2 new branches at Kalanki and Thali. The bank has been providing modern banking services from its 34 branches, 2 extension counters and 40 ATMs all over Nepal.

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