Muktinath Bikas Bank Limited is moving closer to becoming a commercial bank. The bank’s 19th annual general meeting approved an 18.20% dividend for its shareholders for the fiscal year 2080/081. Out of the total dividend, 13.53% will be given as bonus shares, and 4.67% will be paid in cash, including applicable taxes.
The AGM, chaired by Bank Board Chairman Khim Prakash Malla, also approved plans to raise the bank’s paid-up capital to NPR 9,00,03,88,767.11 (over nine billion rupees). The bank will amend its bylaws accordingly and start the process for upgrading to a commercial bank, following regulations set by Nepal Rastra Bank.
The meeting also confirmed the appointment of auditors for the fiscal year 2082/083 and passed other routine proposals. Chairman Malla formally opened the session. Board member Bharat Prasad Lamsal delivered the welcome speech, and CEO Pradyuman Pokhrel briefed attendees on the bank’s current performance and future strategy.
