Kumari Bank to give 20pc bonus share

Kathmandu, March 12:

Kumari Bank Ltd (KBL) has declared to distribute 20 per cent bonus share to its shareholders from the profit earned during fiscal year 2005-06. The sixth annual general meeting of the bank held today also agreed to increase the paid up capital to Rs 750 million from Rs 625 million this year, states a Bank’s press release today. The performance for the first six months of the current fiscal year has been encouraging with KBL’s deposits having reached Rs 9,760 million, with loan and advances standing at Rs 8,420 million. The bank registered a growth of 60 per cent in its operating profit, reaching Rs 122 million during the period. KBL has also decided to give 1.05 per cent cash dividend to cover the tax liability on the bonus shares.