20th December 2024, Kathmandu
Garima Bikas Bank has announced its decision to offer a cash dividend to shareholders for the current fiscal year, following a board meeting held on Friday.
Garima Bank Cash Dividend Proposal
The bank has proposed a 5% cash dividend, including tax. This proposal will go through Nepal Rastra Bank’s approval, and then it will be presented at the upcoming Annual General Meeting (AGM) for final approval. Once approved, shareholders will receive their dividends.
Board Approves Dividend Distribution
At the meeting, Garima Bikas Bank’s management confirmed the decision to provide cash dividends from the profits of the last fiscal year. The proposal of a 5% dividend reflects the bank’s aim to reward shareholders for their continued support.
Awaiting Final Approvals
The dividend will be issued after Nepal Rastra Bank’s approval and the AGM’s approval. Once these steps are completed, shareholders will receive their due benefits.
Strengthening Shareholder Relationships
This move highlights the bank’s ongoing efforts to provide value to its shareholders. Garima Bikas Bank remains committed to maintaining transparency and building stronger relationships with its investors.
About Garima Bikas
Garima Bikas Bank Limited started operations on November 4, 2007, with a paid-up capital of NPR 26.5 million. Initially, it served three districts—Syangja, Palpa, and Kaski. In 2012, the bank expanded to 10 districts. Over time, Garima Bikas Bank became a National Level Development Bank.
The bank strengthened its position with mergers, including Nilgiri Bikas Bank on July 14, 2015, and Subekshya Bikas Bank on September 20, 2016. These mergers helped boost its capital and branch network.
In 2021, Garima Bikas Bank further expanded by acquiring Sahara Bikas Bank in Province 2. Today, the bank is a reliable financial institution offering services across Nepal.
For more: Garima Bank Cash Dividend Proposal
