Shangrila Development Bank Limited has successfully completed its 18th Annual General Meeting today, on 17th Chaitra, 2079 at 10 am at Lainchaur Banquet, Lainchaur, Kathmandu. During the meeting, the board of directors proposed the distribution of bonus shares and cash dividends to its shareholders.
According to the proposal, 8.534 percent of the paid-up capital of the Development Bank, which amounts to NPR 3,01,06,69,662/-, will be distributed as bonus shares. Additionally, 0.449 percent of the paid-up capital, which amounts to NPR 1,35,22,213.40 (one crore thirty-five lakh twenty-two thousand two hundred and thirteen paise forty only), will be used for tax payment purposes.
Moreover, the bank has also passed the financial statements for the fiscal year 078/79 during the same general meeting. The meeting also saw the election of six directors representing the founders and ordinary shareholders, who were elected unopposed as per the schedule.
The elected directors include Ujjwal Satyal and Sushil Kazi Baniyan from the Founder Group, Ganga Sagar Dhakal and Naresh Dhunggana from the General Group, Lisa Sherchan from The Commons Group, and Sujan Siddhi Bajracharya from the Founder Group.
Shangrila Development Bank Limited is committed to following the best practices of corporate governance, risk management, and internal control systems. With 112 branch offices and 30 ATMs across the country, the bank has earned the trust and affection of the general public.
