Sindhu Bikas Bank Reschedules Postponed 16th AGM for Falgun 29
1st March 2026, Kathmandu
Sindhu Bikas Bank Limited (SINDU) has officially recalled its 16th Annual General Meeting (AGM) after the initial session, scheduled for February 27 (Falgun 15), failed to reach the required quorum. According to Company Secretary Puskar GC, the meeting held at Hotel Sarathi in Dhulikhel was postponed as it could not secure the attendance of at least 51% of the shareholders (quorum) necessary to conduct formal proceedings. Following this, the Board of Directors held an emergency meeting and decided to reschedule the assembly for Friday, March 13, 2026 (Falgun 29, 2082).
The rescheduled 16th AGM is now set to take place at the Araniko Party Palace in Banepa, Kavrepalanchok, starting at 10:00 AM. Despite the change in date and venue, the bank’s “Book Closure” remains the same as previously announced on January 12 (Magh 29). This means only those Nepalese investors and shareholders who held the bank’s shares prior to the book closure date are eligible to attend and participate in the voting process during the upcoming assembly.
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One of the most critical agendas for this AGM is the proposal to move forward with a merger or acquisition with other suitable banks and financial institutions. Although the bank has already decided not to distribute any dividends for the last fiscal year, it is seeking a mandate from shareholders to authorize the Board of Directors to finalize merger partner selections and sign Memorandums of Understanding (MoUs) to strengthen its capital base and market presence.
In addition to the merger talks, the general assembly will deliberate on and approve the annual report for the previous fiscal year, the auditor’s report, the balance sheet, profit and loss statements, and cash flow reports. The meeting is also slated to appoint an external auditor for the current fiscal year and conduct an election for three directors representing the public shareholder group. Shareholders are encouraged to attend this rescheduled session to ensure the quorum is met and the bank’s strategic transitions can proceed as planned.
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