Kathmandu. Muktinath Bikas Bank has concluded its 19th Annual General Meeting. The meeting was held at Hotel Grand Pardi in Pokhara, Kaski.
The meeting held the last fiscal year 2081. The company has approved a total dividend of 18.2 percent for the company. This includes 13.53 percent bonus shares and 4.67 percent cash dividend.
The meeting also delegated authority to the Board of Directors to forward the entire process of converting Muktinath into a commercial bank. The meeting also endorsed a special proposal to authorize the Board of Directors to initiate merger process with other appropriate banks and financial institutions.
The meeting also approved a proposal to increase the paid-up capital of the bank to Rs 9.03 billion after the issuance of bonus shares and Rs 1 billion unissued undisclosed preference shares last year.
The meeting also endorsed a proposal to assign authority to a person designated by the Board of Directors while amending the Memorandum of Association and Regulations.
The meeting also approved the annual report and auditor’s report of the last fiscal year. The same assembly elected the current fiscal year 2082. The meeting also passed a proposal regarding the appointment of an auditor and determination of his or her remuneration for Province 83.
The AGM also approved the integrated financial statement of its subsidiary company Muktinath Capital along with its financial statements of last fiscal year.
