Janata Bank to Issue Right Shares

June 14: The annual general meeting (AGM) of Janata Bank Limited (JBL) has decided to distribute right shares in the proportion of 2:1. The AGM has passed the proposal to increase the paid-up capital from Rs 4 billion to Rs 10 billion. JBL had made the profit of 153.49 million in Fiscal Year (FY) 2071/2072.

Similarly, the AGM has approved the proposal to reduce promoter shares to 51 percent from 70 percent while increasing the general shares to 49 percent from 30 percent and change the structure of BOD accordingly.

The bank has collected Rs 22.89 billion deposits and distributed Rs 19.61 billion loans by the end of Chaitra 2072. Currently, the bank has been providing its services through 36 branches, 29 ATMs and five branchless banking services. SBL has also aimed to open the branches in Damak of Jhapa, Dharan of Sunsari, Lahan of Siraha, Bardibas of Mahottari, Hetauda of Makawanpur and Birendranagar of Surkhet in the upcoming FY. The AGM has also appointed CA Umesh Dhakal as the auditor of the bank for FY 2072/2073.