3rd february 2025, Kathmandu
Kumari Bank Limited will hold its 24th Annual General Meeting (AGM) today, 21 Magh 2081 (3 February 2025). The meeting will take place at 11:00 AM at the Tribhuvan Army Officers’ Club in Tundikhel, Kathmandu. This date was decided by the Board of Directors in their meeting on 26 Poush 2081 (10 January 2025).
Kumari Bank 24th AGM
Key Agendas for Today’s Meeting
The bank has announced that there will be no dividend distribution this year. Shareholders will review and approve the annual report and financial statements from the last fiscal year. The meeting will also discuss the appointment of the auditor for the current fiscal year and set their remuneration.
The AGM will cover the financial details of Kumari Bank’s subsidiaries such as Kumari Capital and KBL Securities Limited. These companies’ financial statements for the past fiscal year will also be presented for approval.
Eligibility to Attend the AGM
For the AGM, the bank closed its book on 11 Magh 2081 (24 January 2025). This means that shareholders who held shares until 10 Magh 2081 (9 January 2025) are eligible to attend the meeting.
Although no dividend will be proposed, the AGM will allow shareholders to discuss the profit and loss statement, cash flow statement, and other important financial details. The bank will also appoint the auditors for fiscal year 2080-81 (2023-2024) and finalize their fees.
Book Closure and Shareholder Rights
The book closure for the AGM was done on 9 Magh 2081 (8 January 2025). Only shareholders who held shares by 8 Magh 2081 (7 January 2025) are eligible to participate in the meeting.
As per the meeting notice, the bank will review and approve key documents, including the annual report and financial reports from the last year. Discussions will also cover the bank’s future financial plans.
Conclusion
Today’s AGM is crucial for the bank’s stakeholders. It provides a platform to discuss past performance and future strategies. The meeting will also play a key role in determining the next steps for Kumari Bank as it moves into the new fiscal year. Shareholders will have the opportunity to evaluate the financial health and stability of the bank and its subsidiaries.