HBL’s 27th AGM held

KATHMANDU: The 27th annual general meeting (AGM) of Himalayan Bank Ltd (HBL) chaired by the Board Chairman Manoj Bahadur Shrestha concluded on Wednesday. The AGM has decided to provide 10 per cent bonus share and 12 per cent cash dividend on the paid-up capital to the shareholders, as per a media release.

After issuance of the bonus shares, the bank’s paid-up capital will be Rs 9.372 billion. On behalf of the board of directors, Shrestha presented the bank’s annual report for the fiscal year 2018-19. He informed that the bank’s total deposit base reached Rs 113.09 billion during the period under review, recording a growth of 13.38 per cent over the previous year.

Similarly, the loans and advances reached Rs 98.21 billion, a growth of 13.08 per cent. During the AGM, Ramesh Sapkota, election officer, declared that Prachanda Bahadur Shrestha, Faisal N Lalani, Tulasi Prasad Gautam, Sunil Bahadur Thapa and Ashish Sharma had been elected unopposed on the post of director representing promoter shareholders.

The bank aims to open at least 12 new branches in current fiscal.