Mahalaxmi Bikas Bank Concludes its 20th AGM; Endorses 6.40% Cash Dividend to Shareholders

Mahalaxmi Bikas Bank Limited (MLBL) concluded its 20th Annual General Meeting with the theme "Sabal Bank, Safal Sahakarya" at Lainchaur Banquet, Kathmandu.

The meeting, presided over by Mr. Rajesh Upadhyay, Chairman of the Bank's Executive Committee, reviewed the fiscal year 2079/80 financial performance, including audited statements, profit and loss accounts, and cash flow details. A significant highlight was the unanimous approval of a proposal to distribute a 6.40% cash dividend to shareholders from the profits of the fiscal year.

In addition to financial matters, the meeting agreed a proposal to explore strategic partnerships or investments with foreign banks and financial institutions. The appointment of J.B. Rajbhandari and DiBins Chartered Accountants for the audit of the fiscal year 2080/81 was also approved. Furthermore, amendments to the bank's management paper and regulations received unanimous consent.