Nepal SBI Bank holds AGM

January 4: Nepal SBI Bank Limited successfully held its 24^th Annual General Meeting (AGM) on Wednesday, January 3, at Tribhuvan Army Officers' Club, Bhadrakali, Kathmandu. The AGM approved the directors’ report, profit and loss appropriation account along with the annual financial statements for FY 2073/74, reads a statement issued by the bank.

The bank said it was able to record an operating profit of Rs 2.3399 billion and net profit of Rs 1.5232 billion.

The meeting also agreed to approve distribution of 15.42 percent bonus shares and 0.81 percent cash dividend to its shareholders.

Likewise, the meeting elected Bala Krishna Shrestha as a director unopposed, representing the general public shareholders.

According to the statement, the meeting approved the consolidated balance sheet of the bank including the audited financial statements of the bank's subsidiary - Nepal SBI Merchant Banking Limited - for FY 2073/74 (2016-17).