Machhapuchchhre’s New Plan to Increase Capital

April 17: After the end of merger talks with Janata Bank, Machhapuchchhre Bank has announced to raise the paid-up capital itself. The dispute between two banks was mainly due to the minimum evaluation of shares of Janata Bank. Immediately after the deal was broken, a meeting of board of directors of Machhapuchchhre Bank approved the new scheme on Chaitra 27.

As per the decision, the bank will issue right shares in the ratio 2:1 immediately after the distribution of 16 percent bonus share. After this, the bank’s paid up capital will reach Rs 5.79 billion. For the next year, the bank plans to distribute 11 percent bonus share and right share in the ratio 7:1 to collect the capital of Rs 8 billion.