12 Janaury 2021, Kathmandu
Nepal SBI Bank Limited successfully conducted its 27th Annual General Meeting today at Tribhuvan Army Officers’ Club, Bhadrakali, and Kathmandu. The AGM approved the Director’s Report, Annual Financial Statements (Statement of Financial Position, Statements of Profit or Loss, Statement of Comprehensive Income, Statement of Cash Flow, and all the related schedules and notes to the Annual Report) for FY 2076/77 (2019/21).
The meeting resolved to approve Dividend @ 9.47% (Bonus Shares @ 6% and Cash Dividend @ 3.47%) to its shareholders.
The meeting also approved the Consolidated Balance Sheet of the Bank, including the Audited Financial Statements of the Bank’s subsidiary, i.e., Nepal SBI Merchant Banking Limited, for FY 2076/77 (2019/21).
The meeting has appointed Statutory Auditors M/s SAR Associates, Chartered Accountants for the FY 2077/78(2020/21) and ratified their fees. The meeting has also approved amendments proposed under various Clauses/Articles of Memorandum and Articles of Association of the Bank.
The meeting has also approved the resolution to Authorize the Board of Directors to enter into necessary MOU/Agreement for the merger with or to acquire other suitable Bank and Financial Institution and perform all necessary functions required for merger/acquisition.