Jyoti Bikash Bank AGM announced
18th February 2026, Kathmandu
The corporate governance landscape for development banks in Nepal has seen a major update as Jyoti Bikash Bank Limited officially announced the scheduling of its 18th Annual General Meeting. Following a strategic decision by the Board of Directors on Falgun 5, 2082, the bank is set to convene its shareholders to discuss the financial results of the fiscal year 2081/82 and outline the roadmap for the current operating period. The meeting is scheduled to take place on Falgun 28, 2082, at the Lisara Reception in Naxal, Kathmandu, starting at 11:00 AM. This gathering is particularly significant as it follows a period of consolidation and strategic shifts within the bank’s management, including the leadership of Chief Executive Officer Kapil Dhakal, who has focused on strengthening the bank’s digital infrastructure and core capital.
Jyoti Bikash Bank AGM
A primary point of discussion among the investor community leading up to this AGM has been the board’s decision regarding dividend distribution. In a notice issued earlier, the bank clarified that it would not be proposing any cash dividend or bonus shares for the fiscal year 2081/82. This move to skip dividends for the second consecutive year reflects a broader trend among several Nepali commercial and development banks that are prioritizing capital adequacy and the provisioning of non-performing loans over immediate profit distribution. By retaining its earnings, Jyoti Bikash Bank aims to bolster its reserve funds and ensure that it remains well-capitalized to meet the stringent requirements set by Nepal Rastra Bank, especially as the industry navigates a challenging credit environment.
The official agenda for the 18th AGM includes the formal review and approval of the bank’s annual report and audited financial statements for the period ending Asar 2082. This includes the balance sheet, profit and loss statement, and cash flow reports. Beyond the parent bank, the meeting will also deliberate on the performance of its subsidiary, Jyoti Capital Limited. As a specialized merchant banking arm, Jyoti Capital plays a crucial role in the bank’s diversified service offering, providing portfolio management and issue management services. The consolidated financial report will provide shareholders with a comprehensive view of the group’s overall financial health and the synergy between the development banking and merchant banking units.
To determine shareholder eligibility for participation in the AGM, the bank has announced a one day book closure on Falgun 14, 2082. This means that only those investors who have purchased and held the shares of Jyoti Bikash Bank (JBBL) until the close of trading on Falgun 13 will be entitled to attend the meeting and exercise their voting rights. The book closure process is a standard regulatory requirement that ensures a clear and transparent record of ownership for the purpose of the annual assembly. Investors often monitor these dates closely, as the period leading up to book closure typically sees increased trading activity in the secondary market on the Nepal Stock Exchange.
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In terms of financial performance, Jyoti Bikash Bank recently reported a net profit of approximately 311.27 million rupees in its second quarter analysis for the current fiscal year 2082/83. This reflects a significant recovery and growth in earnings compared to previous quarters, despite the decision to skip dividends for the prior year. The bank’s annualized earnings per share (EPS) has shown positive movement, signaling that the management’s focus on improving asset quality and reducing interest expenses is beginning to yield results. However, the bank continues to maintain a high level of caution regarding its loan portfolio, ensuring that its provisioning levels are sufficient to absorb any potential shocks in the small and medium enterprise sector, which forms a large portion of its lending base.
Another critical item on the AGM agenda is the appointment of an external auditor for the fiscal year 2082/83 and the determination of their remuneration. This is a mandatory governance practice that ensures the independence and transparency of the bank’s financial reporting. Shareholders will have the opportunity to engage with the board on various aspects of the bank’s operations, including its branch expansion strategy—which now covers over 121 locations—and its aggressive push into digital banking through the Jyoti Smart platform. The bank’s commitment to corporate social responsibility, which includes significant contributions to healthcare and education through initiatives like the distribution of baby warmers in rural provinces, will also be highlighted in the annual report.
In conclusion, the 18th Annual General Meeting of Jyoti Bikash Bank represents a vital forum for transparency and accountability. While the lack of a dividend may be a point of disappointment for short-term retail investors, the bank’s focus on building a resilient capital base and improving its operational efficiency through consolidated growth with Jyoti Capital suggests a long-term vision for stability. As shareholders gather at Naxal this Falgun, the focus will be on how the bank leverages its improved quarterly earnings to drive future growth in a competitive and rapidly evolving financial market.
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