Banking News – Shangrila Development Bank has concluded its 22nd Annual General Meeting. The meeting was concluded by the bank’s Board of Directors meeting held on Ashoj 22.

The meeting passed a proposal to distribute a 10.53 percent dividend to shareholders.

The Annual General Meeting passed a proposal to distribute cash dividend (including tax) amounting to Rs 24 crore 36 lakh 97 thousand 102, which comes to 6.52 percent of the bank’s current paid-up capital of Rs 3 arab 73 crore 40 lakh 68 thousand. Similarly, the meeting also passed a proposal to distribute bonus shares amounting to Rs 14 crore 93 lakh 62 thousand 740 at the rate of 4 percent.

Additionally, the bank has appointed Sujan Kafle and Associates, Chartered Accountants, to audit the fiscal year 2083/84. The meeting also unanimously elected a new six-member Board of Directors for the next four years. From the founder shareholder side, Ujjal Satyal, Sushil Kaji Baniya, and Shyam Kumar Sharma have been elected, while from the ordinary shareholder side, Bishnu Prasad Dhakal, Krishna Prasad Regmi, and Bhavana Agrawal have been elected.