Kathmandu, January 11, 2024 — Laxmi Sunrise Bank convened its 23rd Annual General Meeting (AGM) on January 11, 2024, in Kathmandu, where significant decisions were made and new leadership was appointed.
The AGM began with the approval of the director's report and the annual financial statements for the fiscal year 2079/80 (2022/23). Shareholders were informed about the bank's performance and strategic initiatives undertaken during the past fiscal year.
One of the major highlights of the meeting was the approval to distribute a 7% Bonus Share to the shareholders, utilizing the retained earnings until FY 2079/80. This decision aims to reward the shareholders and reflects the bank's commitment to value creation.
Furthermore, the AGM saw the election of new members to the Board of Directors. Mr. Raman Nepal and Mr. Manoj Kumar Bhattarai were elected to represent the promoter shareholders, while Mrs. Swati Roongta and Mr. Dinesh Paudyal were elected to represent the public shareholders. These esteemed individuals will serve on the Board for the next tenure, bringing diverse expertise to contribute to the bank's strategic direction.
Following the AGM, the newly constituted Board of Directors convened to appoint leadership roles. Mr. Raman Nepal, elected on behalf of the promoter shareholders, was unanimously chosen as the Chairman of the Board. His extensive experience and leadership qualities position him well to guide the bank through its next phase of growth and development.
The decisions made during the AGM and subsequent Board meeting signal a positive outlook for Laxmi Sunrise Bank, demonstrating a commitment to financial transparency, shareholder value, and effective governance. The bank looks forward to the continued support of its shareholders as it strives for excellence in the banking sector.
