Sindhu Bikash Bank Limited successfully conducted its 14th and 15th Annual General Meeting (AGM) on March 22, 2025, at Mirabel Resort Hotel, Dhulikhel, Kavrepalanchok. The meeting focused on two major resolutions: issuing rights shares and exploring merger opportunities.
To meet Nepal Rastra Bank’s (NRB) requirement of a minimum paid-up capital of NPR 1.2 billion for national-level development banks, the AGM approved the issuance of rights shares. Initially, a 2:1 rights issue (one rights share for every two existing shares) was proposed, but after discussion, shareholders approved a 1:1.16 ratio instead. The final implementation is subject to NRB’s approval, and the Board of Directors has been authorized to complete the necessary regulatory procedures.
Additionally, shareholders unanimously approved a special resolution granting the Board full authority to explore mergers or acquisitions with other financial institutions. This includes appointing a recognized valuer for the Due Diligence Audit (DDA), negotiating valuation fees, preparing a Memorandum of Understanding (MoU), and completing other required processes. The decision is aimed at strengthening the bank’s position and expanding its operations.
