Bhargav Bank to Distribute Dividend

July 10: The eighth Annual General Meeting (AGM) of Bhargav Bikas Bank Limited (BBBL) has endorsed a proposal to distribute dividend to its shareholders. As per the decision, the bank will distribute 20 percent bonus share and 1.05 percent cash dividend. The bank decided to provide the bonus from the income of fiscal year 2071/2072 to increase the paid-up capital. The AGM also passed a proposal to issue right shares in the ratio of 1:1 to increase the capital.

BBBL has collected the deposits of Rs 1.47 billion and extended the credit of Rs 1.14 billion by the first week of July of current FY. “The operating profit has increased due to the significant increase in deposits and credit extension,” said Pushkar Raj Joshi, CEO of BBBL.

Currently, the bank is providing its services through seven branches in Banke, Bardiya and Dang districts.  According to the bank, the eighth branch is going to be opened in Bhurigaun, Bardiya.