Kumari Bank to issue 50% Right Share

November 15: Kumari Bank is issuing 50 percent right shares to its existing shareholders. The special general meeting (SGM) held under chairmanship of Santosh Kumar Lama, Chairman of board of directors of the bank recently approved the proposal of issuing 50 percent right shares of the current paid-up capital to its existing shareholders. Moreover, the SGM also approved the proposal of increasing its authorised, issued and paid-up capital by amending its article of association.

Presently, Kumari Bank is forwarding the process of acquiring Kasthamandap Development Bank, Pachimanchal Finance Company, Mahakali Bikash Bank And Kakrebihar Bikash Bank. The bank has already signed an agreement with the aforementioned banks regarding acquisition.