Garima Bikas Bank to Hold 19th Annual General Meeting
3rd November 2025, Kathmandu
Garima Bikas Bank Limited (GBBL) has officially announced the convocation of its 19th Annual General Meeting (AGM), following a decision made during the 335th Board of Directors meeting on October 19, 2025 (2 Kartik 2082).
Garima Bikas Bank AGM
This crucial corporate event will serve as the platform for shareholders to review the bank’s financial performance for the last fiscal year and vote on key proposals, including a significant dividend distribution and corporate restructuring.
AGM Logistics and Total Dividend Proposal
The AGM is scheduled to take place outside the capital, underscoring the bank’s national presence and commitment to its operational roots in the western region of Nepal.
Meeting Details
Date and Time: The meeting is set for 27 Kartik 2082 (Thursday, November 13, 2025), commencing at 11:00 AM.
Venue: The AGM will be held at Hotel Pokhara Grand, Birauta, Pokhara, Kaski, a location central to the bank’s original operational base.
Book Closure: The bank has set the book closure date from Kartik 18. Shareholders who hold shares in their demat accounts before this date are entitled to the proposed dividend and can attend the AGM.
Total Dividend Distribution
The Board of Directors has proposed a total dividend of 10.53% for the Fiscal Year (FY) 2081/82, which is subject to approval from the Nepal Rastra Bank (NRB) and the shareholders at the AGM. This dividend comprises two components:
Bonus Shares (Stock Dividend): 6% bonus shares will be issued on the bank’s existing paid-up capital of NPR 5,680,517,328. This will result in the issuance of bonus shares worth NPR 34,083,039.65, which will increase the bank’s total paid-up capital to approximately NPR 6,021,347,698.
Cash Dividend: A 4.53% cash dividend will be distributed. This amount includes the necessary tax portion on both the proposed bonus shares and the cash dividend itself, totaling NPR 25,732,743.94.
The primary purpose of distributing a portion of the dividend as bonus shares is to increase the bank’s paid-up capital, thereby strengthening its capital base and financial stability as mandated by the central bank’s capital adequacy requirements for Class ‘B’ development banks.
Comprehensive AGM Agenda
The AGM will cover a range of ordinary and special proposals necessary for the bank’s ongoing operations, governance, and future strategic direction.
Ordinary Proposals for Financial Review and Compliance
The ordinary agenda items focus on compliance and the formal acceptance of the bank’s performance in the last fiscal year:
Financial Endorsement: Shareholders will review and approve the Board’s annual report for FY 2081/82, along with the full set of financial statements, including the auditor’s report, balance sheet as of Ashadh 2082 (mid-July), profit and loss accounts, cash flow statements, dividend distribution accounts, and equity changes.
Auditor Appointment: The appointment of the auditor for FY 2082/83 and the determination of their remuneration will be finalized.
Special Proposals for Corporate Strategy
The special proposals outline key strategic changes that will shape the bank’s corporate structure and future operations:
Capital Increase: Approval will be sought to increase the bank’s authorized capital to NPR 6,100,000,000. This increase provides the bank with the legal room necessary to accommodate the proposed 6% bonus shares and any potential future capital increments through rights issues, FPOs, or further bonus shares.
Registered Office Relocation: The bank will seek approval to relocate its registered office within the capital, specifically moving from Ward No. 2, Lazimpat, Kathmandu Metropolitan City, to Ward No. 3, Baluwatar, Kathmandu Metropolitan City.
Branding and Governance: Proposals include the approval to change the bank’s stamp and logo, signaling a potential re-branding or modernization effort. Additionally, the AGM will approve the payment structure for the Board of Directors, covering Board meeting allowances and reimbursement for telephone, newspaper, and internet expenses.
Merger and Acquisition (M&A) Authority: Previous reports indicated that a significant special agenda for the 19th AGM is to grant the Board of Directors the authority to identify a suitable development bank for merger and acquisition (M&A), including the appointment of an assessor and the execution of all related procedures, which is critical in the current consolidation-driven regulatory environment.
This AGM is a vital institutional event, setting the financial parameters and corporate governance framework for Garima Bikas Bank for the upcoming fiscal year.
For More: Garima Bikas Bank AGM
