Siddhartha Development bank limited has decided to distribute 10
percent dividend to its
shareholders. The bank
announced the decision after
the 7th annual general
meeting of the bank endorsed
a decision to that regard on
Saturday. In a press release
the bank stated that it
posted a growth of more than
25 percent in profit in last
fiscal year (2005/2006).
Siddhartha Development Bank
achieved a 70 percent rise
in deposit mobilization and
more than 81 percent rise in
loans and investments in the
same period. The AGM also
decided to raise the issued
capital of the company to rs
320 million and increase
paid up capital as well. The
AGM further choose Pandey
Pokharel and Dr Manju
Bahadur as directors for the
next four years.
Other banking news and
articles:
Asian Development bank study
on transport 5-1-2007
Global Bank in Nepal 4-1-07
Saving scheme for Child
Labourers (2-1-07)
progress on internet
banking (1-1-07)
Banks rush into consumer lending
Banks to far away from clients
|