KATHMANDU, March 23: The 16th annual general meeting (AGM) of Kumari Bank Ltd has approved the decision of its board of directors (BOD) to distribute 21 percent bonus shares and 1.10 percent cash dividend (for tax purpose) to its shareholders from the profit earned in the last fiscal year.
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According to the bank, the AGM also approved the board’s decision to acquire Kasthamandap Development Bank, Pashchimanchal Finance Company, Mahakali Development Bank and Kankrebihar Development Bank.
“After the acquisition, we will further issue rights shares worth Rs 1.19 billion to our shareholders,” the statement added.
