SBL’s rights shares

KATHMANDU: The seventh annual general meeting (AGM) of Siddhartha Bank Ltd (SBL) held on Monday has decided to distribute 15 per cent bonus shares and 50 per cent rights shares. During the fiscal year 2007-08 the bank earned an operating profit of Rs 234.1 million while in the first five months of the current fiscal year it posted an operating profit of Rs 15.5 billion. — HNS

Kist’s new branch

KATHMANDU: KIST Merchant Banking and Finance Ltd has started operation of a 13th branch office at Khairani, Rupandehi, from Monday. According to a press statement issued by the company, the financial institution is prepared to upgrade itself to an A-grade commercial bank. It plans to declare itself a commercial bank on its anniversary on February 20, after Nepal Rastra Bank’s nod. — HNS

NDDB head

KATHMANDU: The Ministry of Agriculture and Cooperative (MoAC) has appointed Dunanath Pathak as executive director of the National Dairy Development Board, according to a cabinet decision on December 29, said a press release. He has been appointed for four years. — HNS

Dealers’ junket

KATHMANDU: Pashupati Paints will take 45 of its dealers on a week’s trip to Egypt. They have been rewarded for exceptional sales and meeting the target in the first quarter of the fiscal. The firm also announced a trip to Switzerland and various bonus offers on meeting the yearly target. — HNS