Nepal SBI Bank holds its 30th Annual General Meeting And Approved Distribution of 10.55% Dividend

Nepal SBI Bank Limited successfully conducted its 30^th Annual General Meeting today at Tribhuvan Army Officers' Club, Bhadrakali, Kathmandu.

The AGM approved the Report of the Board of Directors, Auditor's Report together with Annual Financial Statements (Statement of Financial Position, Statements of Profit or Loss, Statement of Comprehensive Income, Statement of Cash Flow and all the related schedules and notes to the Annual Financial Statements) for FY 2079/80 (2022/23). The meeting also approved the Consolidated Financial Statements of the Bank including the Financial Statements of the Bank's subsidiary i.e. Nepal SBI Merchant Banking Limited for FY 2079/80 (2022/23).

The meeting resolved to approve distribution of Dividend @ 10.55% of paid up capital (Bonus Shares @ 3.75% and Cash Dividend @ 6.80% including applicable tax for bonus share and cash dividend) to its shareholders. 

The meeting has appointed M/s PKF T R Upadhya & Co., Chartered Accountants as Statutory Auditor of the Bank for the FY 2080/81 (2023-24) and fixed their audit fee/ remuneration. The meeting has also approved amendment proposed under various Clauses of Memorandum of Association of the Bank.

The meeting has also approved the resolution to authorize the Board of Directors to enter into necessary MOU/Agreement for merger with or to acquire other suitable Bank and Financial Institution as well as to perform all necessary functions required for merger/acquisition.