Kathmandu. The 24th Annual General Meeting (AGM) of Mahalaxmi Bikas Bank Limited has been concluded. The meeting was presided over by Rajesh Upadhyaya, Chairman of the Board of Directors of the Bank and was held at Tribhuvan Army Officers’ Club, Bhadrakali, Kathmandu.
The AGM has also approved the financial statements related to the financial statements related to the balance sheet of the fiscal year 2082 BS and the profit or loss account of the fiscal year 2081/082 as well as the cash flow statement, profit and loss allotment account, change in equity and other financial statements for the same period.
Similarly, the AGM approved the proposal of distributing 10.37 percent dividend as proposed by the Board of Directors. The meeting approved the proposal of distributing 5.37 percent cash dividend and 5 percent bonus share of the current paid-up capital from the distributable profit of the fiscal year 2081/082. In the previous fiscal year, the bank had distributed 7 percent dividend.
The overall financial indicators of the bank have seen positive change at the end of FY 2081/82 as compared to FY 2080/81. At the end of the fiscal year 2080/81, the base rate was 9.39 percent and at the end of the fiscal year 2081/82, it was 6.94 percent. Similarly, the capital fund adequacy ratio has improved significantly from 14.93 percent to 17.06 percent. At the end of the fiscal year 2081/82, the bank’s deposit was Rs. It has Rs. 56.22 billion and loans and loans of Rs. 47.21 billion.
As per the AGM, Rajesh Upadhyaya, Sanjay Giri and Sagar Malla have been elected from Growing Group (A) and 3 Directors from Promoter Group (A) and 3 Directors from General Group (B) respectively. Similarly, Shyam Sundar Rungta, Rahul Agrawal and Shalik Ram Aryal have been elected from the Public Shareholders’ Group (B). The newly elected Board of Directors has elected Rajesh Upadhyay as the Chairman of the Board of Directors.
Mr. Rajesh Upadhyaya, Chairman of the AGM, welcomed the suggestions and suggestions received from the shareholders and expressed commitment to further refine and specialize the bank’s activities to provide quality financial services to the satisfaction of the customers and appropriate return on investment.
