SGM of Tourism Development Bank on 15th Bhadra 2073

Special General Meeting of Tourism Development Bank (TDBL) conducted on 15^th Bhadra, 2073 has given final approval to merge with Matribhumi Bikas Bank limited and Kalinchowk Development Bank Limited. SGM also has given approval to issue 1:1 right share after merger settlement. Paid Up Capital of Matribhumi Bikas Bank, Kalinchowk Development Bank and Tourism Development is around 4 Crore 80 lakh, 10 Crore and 78 Crore 96 lakh respectively before merger.

Tinau Development Bank Limited Declared 25% Bonus share and 1.31% Cash Dividend.

BOD meeting of Tinau Development Bank Limited has proposed 25% bonus share and 1.31 % cash dividend to its shareholders. The decision is subjected to approval from upcoming Annual General Meeting.

NIBL 30th AGM on Ashwin 11, 2073

Nepal Investment Bank (NIBL) has called 30^th Annual General Meeting (AGM) on Ashwin 11, 2073 to endorse 20% stock dividend and 21% Cash dividend. Bank also notify the date of book closure on Bhadra 21, 2073. AGM is going to be held at National Assembly Hall, Kathmandu, Nepal at 10.00 Am. According to the Special ajenda set by Bank is to increase the paid up capital to 15 Arab.

SEBON issued press release to form committee to work out on Right Share and FPO share of unregulated Companies

Securities Board of Nepal has issued a press release regarding the formation expert committee to submit a proposal of regulations for issuing Right Share and Further Public Offering (FPO) of listed companies such as hydropower and other companies having no regulating body within a month.

The newly formed committee will suggest necessary criteria related to issue FPO and right shares of those listed companies having no regulatory body.

The Draft to Increase Paid Up Capital of Insurance Company is now being Discussed In Ministry of Finance

The draft prepared by Beema Samiti (Insurance Committee) about to increase paid up capital of life and non life insurance is now being discussed in the financial management department of the Ministry of Finance, source said. If proposed draft is approved, life insurance company must raise their paid up capital from 500 million (50 Crore) to 4 billion (4 Arab) and non life insurance company must raise their paid up capital from 250 million (25 Crore) to 5 billion (5 Arab). Recently total paid up capital of insurance company in Nepal ranges from 120 million (12 crore) to 1.73 billion (1 Arab 73 Crore). According to draft, Insurance Company must raise their paid up capital within two years from the date of approval.

SEBON has given final approval to issue right shares of Laxmi Laghubitta

Laxmi Laghubitta Bittiya Sanstha Limited got final approval from Securities Board of Nepal to issue 1:1 right shares i.e 11,00,000 units to its existing shareholders.  Company has assigned NMB Capital Limited as the Issue manager for 1:1 (100%) right share. Paid up capital will reach to Rs. 22 Crore after the issuance of 1:1 right share.

Vibor and Society Dev Bank received Final Merger Approval.

Nepal Rastra Bank has given final merger approval for Vibor Development Bank Limited and Society Development Bank Limited to commence its joint transaction in the name of Vibor Society Development Bank Limited from 17^th Bhadra, 2073. 

Apex Called Special General Meeting on 2073-05-28

Apex Development Bank Limited has called Special General Meeting to be held on 2073-05-28 for changing Promoter Share and General Public Share ratio from 66:33 to 51:49. Apex Dev. Bank also informed NEPSE on 2073-05-13 at 4:30 PM that the register of its shareholders will remain close from 24^th Bhadra, 2073 to 28^th Bhadra 2073.  Apex is now in the final stage of merger with NCC Bank and with other three Developments such as ID Bank, Supreme Dev. Bank and International Development Bank. Source said that joint Banking transaction will start within Aswin month.

Broker No 52, "Sundhara Securities Limited " suspended for Seven working days.

According to notice published today by Nepal Stock Exchange Ltd, Broker No 52, "Sundhara Securities Limited " has been suspended for Seven working days due to the non –settlement of fund obligation.

Siddhartha Investment Growth Scheme Proposed 30% Cash Dividend

As per the notice published today on NEPSE site, Siddhartha Investment Growth Scheme (SIGS1) has proposed 30% cash dividend to its unit holders which is subjected to approval from concerned authorities. 

Similarly, Siddhartha Equity Oriented Scheme (SEOS) has also announced 16% cash dividend to its unit holders. 

Commercial Bank's Possible Dividend

Commercial Banks are now proposing dividend from the profit made from the fiscal year 2072/73. Few Banks have already proposed dividend as Bonus share and cash dividend. According to EPS of respective banks, possible dividend is assumed as follows but their trend is to provide much more bonus share than its EPS by using reserve fund to meet the paid up capital within specified time.

(Paid up and Net profit figures round up to Crore)

S.N Banks Paid Up Reserve Net Profit Possible Dividend 1 Everest Bank  2,740,000,000    5,860,000,000  1,730,000,000 50 2 Nabil Bank  4,750,000,000    7,590,000,000  2,840,000,000 47 3 Nepal Investment Bank  7,250,000,000  10,620,000,000  2,580,000,000 *41 4 ADBL  3,930,000,000    8,380,000,000  2,570,000,000 41 5 Standard Chartered Bank  2,810,000,000    4,400,000,000  1,260,000,000 35 6 Himalayan Bank  4,490,000,000    1,370,000,000  1,910,000,000 34 7 Nepal SBI Bank  3,090,000,000    1,000,000,000  1,330,000,000 34 8 Siddhartha Bank  3,020,000,000    3,250,000,000  1,260,000,000 33 9 Nepal Bangladesh Bank  3,030,000,000    3,050,000,000  1,190,000,000 *33.7 10 NICA Bank  4,570,000,000    2,870,000,000  1,070,000,000 *26 11 Citizens Bank  3,650,000,000    1,730,000,000  1,090,000,000 *25.78 12 Prime Bank  3,700,000,000    1,750,000,000  1,120,000,000 24 13 Rastriya Banijya Bank  8,580,000,000       730,000,000  2,640,000,000 23 14 NCCB  2,350,000,000    1,280,000,000     700,000,000 23 15 Kumari Bank  2,690,000,000    1,380,000,000     740,000,000 22 16 NMB Bank  4,480,000,000    2,530,000,000  1,200,000,000 21 17 Sunrise Bank  3,970,000,000    2,160,000,000     950,000,000 19 18 Laxmi Bank  3,030,000,000    2,670,000,000     720,000,000 19 19 Global IME Bank  6,160,000,000    2,560,000,000  1,410,000,000 18 20 BoK lumbini Bank  4,570,000,000    3,300,000,000     750,000,000 18 21 Sanima Bank  4,020,000,000    1,410,000,000  1,050,000,000 18 22 Machapuchre Bank  3,860,000,000    1,510,000,000     890,000,000 18 23 Prabhu Bank  5,880,000,000       360,000,000  1,140,000,000 15 24 Mega Bank  3,240,000,000       960,000,000     550,000,000 13 25 Janata Bank  2,060,000,000       620,000,000     320,000,000 12 26 Century Bank  2,840,000,000       530,000,000     380,000,000 10 27 Civil Bank  3,080,000,000       530,000,000     330,000,000 8 28 Nepal Bank  6,460,000,000       480,000,000  3,010,000,000 0

Note:   * Declared Dividend.