The 9th annual general meeting of Laxmi Bank has passed a proposal to issue 5 percent bonus shares and provide cash dividend equivalent to tax imposed on bonus shares to its shareholders.
Issuing a press statement on Sunday, the bank said the meeting also endorsed the special proposal to raise authorized capital to Rs 2 billion. With the issues of rights and bonus shares, the bank´s paid-up capital will reach Rs 1.61 billion.
The bank´s net profit has increased by 57.46 percent to Rs 188.9 million during the fiscal year 2008/09 as compared to the previous fiscal year. Similarly, the bank´s deposit collection, loan disbursement and investment also rose by 47.03 percent, 37.46 percent and 92.89 percent respectively as compared to previous year.
Source:Republica
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Saturday, January 16, 2010
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