Citizens Bank’s 10th AGM

October 3: Citizens Bank International has organised its 10th annual general meeting (AGM) on October 2. The AGM was held under the chairmanship of Dr Shanker Prasad Sharma, Chairman of Board of Directors of the bank. 

In the AGM, Dr Sharma, on the behalf of BOD, presented the annual report of the FY 2072/73 along with a detail financial situation of the bank. During the last FY, the bank collected deposit of Rs 47.39 billion and extended loan of Rs 40.56 billion. In the last FY, the operating profit of the bank increased by 42.45 percent to Rs 4.56 billion. Likewise the net profit also increased by 49.99 percent to Rs 1.08 billion. 

The AGM approved a proposal to distribute bonus share worth of Rs 750.6 million and cash dividend worth of Rs 39.5 million for tax purpose to the bank's shareholders.  

With the distribution of bonus share, the bank's paid-up capital will reach Rs 4.75 billion. Moreover, the bank has also announced to issue 10:2.5 right shares in order to meet the minimum paid-up capital requirement of Rs 8 billion as per the directive of Nepal Rastra Bank.