The annual general meeting of Sanima Bikas Bank held on Dec. 16 has approved the decision of the bank to upgrade itself to a commercial bank and raise the required capital for the purpose by issuing 5 percent bonus shares to its shareholders and 1:1.5 rights shares.
The bank will apply to Nepal Rastra Bank for the purpose. The meeting also elected Jiba Lamichhane and Jugal Bhurtel as new members to the board of directors. It also re-elected Arun Ojha and Tek Raj Niraula as board directors.
Source: eKantipur
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Wednesday, December 23, 2009
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