SPACES Sept issue 2017

and floating 3:1 right shares of the
paid-up capital maintained after
distributing the bonus shares to
its existing shareholders. Both the
proposals are subjected to approval
from the central bank the upcoming
AGM of the bank.
Presently, the bank has a paid-up of Rs
2.75 billion. After the distribution of the
bonus shares, the paid-up capital of the
bank will reach Rs 4.67 billion. The bank
said if it issues the 3:1 right shares, the
paid-up capital of the bank will reach Rs
6.24 billion.
Everest Bank
Support for
Manakamana Temple
Everest Bank has provided its support to
Mata Manakamana Temple. As part of
its CSR activity, the bank provided
incense stick stands and dust bins to the
temple during a programme held at the
temple premises.
Dr Ram S Sangapure, Executive Director
of Punjab National Bank and Someshwar
Seth, CEO of Everest Bank handed
over the items to Garidhari Sapkota,
Executive Director of Temple Area
Development Committee.
Money transfer company MoneyGram
has distributed prizes to the winners
of its scheme launched during
the festive season. The company
distributed 10 motorcycles, 10
refrigerators and 10 mobile phones to
the winners. Julius, Senior Director
of South Asian and JCC Countries of
MoneyGram handed over the prizes
to the winners with a promise of
providing more services beyond the
customer's expectation.
Muktinath to Distribute 34% Bonus Shares
The 10th annual general meeting (AGM)
of Muktinath Bikash Bank has approved
the proposal of distributing bonus
shares at 34 percent to its shareholders.
The AGM also approved the proposal
of distributing 50 percent right shares
of the paid-up capital maintained after
distributing the bonus shares and right
shares. Moreover, the bank has also
approved relocating its central ofce at
Kamaladi, Kathmandu and providing
authorisation to the board of directors to
initiate merger or acquisition processes
with other BFIs.
Nepal Gramin Bikash Bank Net prot
Increases Two Folds
The net prot of Nepal Gramin Bikash
Bank has increased by two folds during
the rst quarter of the current FY.
During the review period, the bank
earned a net prot of Rs 30 million. The
bank said the increase has been
attributed to the increase in operating
prot and net interest income. Similarly,
the operating prot of the bank
increased to Rs 45.5 million in the rst
quarter of the current FY, a three-fold
increase compared to the same period
last year. Moreover, the loan extension
of the bank has increased by 21.31
percent to Rs 6.85 billion. However, the
reserve fund of the bank has decreased
by 80.21 percent to Rs 45.8 million
during the review period.
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