Siddhartha Bank Limited Concludes Its 24th Annual General Meeting
17th November 2025, Kathmandu
Siddhartha Bank Limited (SBL) successfully concluded its 24th Annual General Meeting (AGM) at the Army Officers Club, Bhadrakali, Kathmandu.
SBL Concludes 24th AGM
Chaired by Board Chairperson Rahul Agrawal, the meeting served as the formal platform for shareholders to review the bank’s performance and approve key financial and operational proposals for the fiscal year 2024/25.
The successful completion of the AGM confirms the bank’s commitment to strong corporate governance and transparency with its shareholders.
Endorsement of Dividends and Financial Statements
The central focus of the 24th AGM was the approval of the dividends recommended by the Board of Directors, calculated based on the bank’s substantial paid-up capital.
The AGM formally endorsed a total distribution package exceeding 10.53 percent on the bank’s current paid-up capital of Rs. 14.08 billion. The dividend was approved in the following dual structure:
Bonus Shares: The meeting approved 5 percent bonus shares, which translates to a value of Rs. 704.9 million. The issuance of bonus shares is essential for strengthening the bank’s capital base while simultaneously rewarding shareholders with increased equity stakes.
Cash Dividend: A 5.53 percent cash dividend was endorsed, amounting to Rs. 779.17 million. This cash component is particularly significant as it includes the amount required to cover the tax liability applicable on the bonus shares, ensuring that shareholders receive the full benefit of the bonus issue without a personal tax burden.
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In addition to the dividend, the shareholders at the AGM formally approved the comprehensive annual reports, demonstrating their assent to the management’s performance and financial reporting:
Annual Report: The Board of Directors’ annual report for the fiscal year 2081/82 was reviewed and approved.
Financial Statements: The AGM endorsed the Auditor’s Report and the bank’s full financial statements as of Ashad end, which included the essential documents like the profit and loss account, cash flow statement, and statement of changes in equity.
Key Governance and Operational Approvals
Beyond the financial dividends, the AGM also addressed crucial governance matters necessary for the bank’s continued operation and regulatory compliance for the upcoming fiscal year.
The meeting unanimously approved the proposal to appoint an external auditor for the next fiscal year and also determined the remuneration they would receive. The appointment of an external auditor is a statutory requirement, ensuring an independent review of the bank’s financial health and procedures, which is fundamental to maintaining investor and public trust.
The successful conclusion of the 24th AGM, marked by the approval of a significant dividend and the smooth handling of governance matters, positions Siddhartha Bank Limited for a strong continuation of its operations in the current fiscal year.
For More: SBL Concludes 24th AGM
