Laxmi Bank holds 21st annual general meeting Business 360

Laxmi Bank holds 21st annual general meeting

Stakeholders attend the 21st Annual General Meeting of Laxmi Bank in Kathmandu, on Thursday, December 23, 2021. Photo courtesy: Laxmi Bank

KATHMANDU: Laxmi Bank’s 21st annual general meeting (AGM) was held in Kathmandu on Thursday.

The AGM approved the proposal of distribution of 8% Bonus Shares and 3.5% cash dividend on the current paid-up capital of the bank. With this, the paid-up capital of the bank will grow up to Rs 11.55 billion after distribution of the bonus shares approved by the AGM.

The AGM discussed and approved the Directors’ Report and the Financial Statements for the financial year 2020/21 (2077/78).

Laxmi Bank closed the financial year 2020/21 with a balance sheet size of Rs 152 billion and a net profit of Rs 1.57 billion. All key financial indicators are well within prudential and regulatory norms.

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