Nepal SBI Bank Limited Holds 31st AGM, Approves Dividend and Merger Authorization
Mon, Jan 6, 2025 9:25 AM on Latest, Dividend, Bonus & Rights, AGM/Special AGM, Merger/Acquistion,
Nepal SBI Bank Limited (SBI) successfully conducted its 31st Annual General Meeting (AGM) at Tribhuvan Army Officers' Club, Bhadrakali, Kathmandu. The meeting approved the Board of Directors’ Report and the Audited Financial Statements for FY 2080/81 (2023-24), including the consolidated financials of its subsidiary, Nepal SBI Merchant Banking Limited.
The AGM endorsed a 10.65% dividend on paid-up capital, comprising 3.80% bonus shares and 6.85% cash dividend, including applicable taxes. It also reappointed PKF T R Upadhya & Co., Chartered Accountants, as the statutory auditor for FY 2081/82 (2024-25).
The meeting authorized the Board to pursue mergers or acquisitions with other financial institutions and approved amendments to the bank's Memorandum and Articles of Association, alongside other strategic resolutions to drive future growth.
