Himalayan Bank to Distribute 24 Percent Dividend

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Himalayan Bank to Distribute 24 Percent Dividend

February 13: The 27th Annual General Meeting (AGM) of Himalayan Bank on Wednesday decided to provide 10 percent bonus share and 12 percent cash dividend on the paid-up capital to the shareholders.

The bank said in a statement that the AGM chaired by its Chairman Manoj Bahadur Shrestha concluded on February 12.

After the issuance of the bonus shares, the bank’s paid-up capital will increase to Rs 9.372 billion.

Chairman of the bank, Shrestha, presented the bank's annual report for the fiscal year 2018/19 during the AGM. While presenting the report, Chairman Shrestha stated that the bank is continuously improving its service because of the trust of the valued customers and creative effort of the management.

According to the bank, Shrestha also stated that the bank has become one of the leading, reliable and secured banks in Nepalese financial sector during the last 27 years and that the bank is committed to provide prompt and standard banking services.

He informed that the bank’s total deposit base has reached Rs 113.09 billion during the period under review, recording a growth of 13.38 percent over the previous year. Similarly, the loans and advances have reached Rs 98.21 billion recording a growth of 13.08 percent.

The AGM also elected Prachanda Bahadur Shrestha, Faisal N Lalani, Tulasi Prasad Gautam, Sunil Bahadur Thapa and Ashish Sharma as board directors of the bank unopposed representing promoter shareholders, the statement cited election officer Ramesh Sapkota as saying.

Congratulating the newly elected directors, Shrestha highlighted various activities of the bank. He further added that the bank aims to open at least 12 new branches in the current fiscal year.

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