Siddhartha Bank Limited successfully concluded its 24th Annual General Meeting (AGM) at the Army Officers Club, Bhadrakali, Kathmandu.
The meeting was chaired by Board Chairperson Rahul Agrawal and served as a formal platform for shareholders to review the bank’s performance for fiscal year 2081/82 and approve key financial and operational proposals.
Dividend and Financial Statements Endorsed:
The AGM approved the dividend package recommended by the Board, based on the bank’s paid-up capital of NPR 14.08 billion, totaling over 10.53%.
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Bonus Shares: 5%, valued at NPR 704.9 million.
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Cash Dividend: 5.53%, amounting to NPR 779.17 million, including taxes on bonus shares to ensure full benefit for shareholders.
Shareholders also endorsed the annual report, auditor’s report, and full financial statements, including the profit and loss account, cash flow statement, and statement of changes in equity.
Key Governance and Operational Approvals:
The AGM unanimously approved the appointment of an external auditor for the next fiscal year along with their remuneration, ensuring independent review of the bank’s financial health and maintaining investor trust.
The successful conclusion of the AGM, coupled with the approval of a substantial dividend, positions Siddhartha Bank for strong operations and growth in the current fiscal year.
