Kumari Bank to provide 10 pc bonus shares

The ninth Annual General Meeting of Kumari Bank held Sunday declared that it would provide 10 percent bonus shares and redeem the existing promoter share to 51 percent. A press statement issued by the bank said that the remaining 19 percent promoters' shares will be sold to public.

According to financial performances of the bank recorded during the last fiscal year, the bank was able to increase its net profit by 49.45 percent in comparison to previous fiscal year. The total deposits by the end of the period touched Rs 15.71 billion, which was an increment of 22.9 percent compared to previous year.

Similarly, loans and advances extended by the bank also rose by 28.41 percent to Rs 11.34 billion, while the non-performing loans went down to 0.44 percent from 1.32 percent.

Source:
myrepublica.com