Kathmandu. The AGM of Garima Bikas Bank Limited has been held. The 20th AGM of the bank was held on October 11 at Hotel Pokhara Grand, Pokhara Metropolitan City, Kaski District.

The AGM approved the proposal of distributing 10% bonus shares and 10% cash dividend (including tax on the proposed bonus shares and cash dividend) to the shareholders.

The AGM endorsed the annual report of the development bank for the fiscal year 2082/83, the balance sheet of the development bank along with the auditor’s report, the profit and loss account for the fiscal year 2082/83, the cash flow statement, the profit and loss distribution account, the changes made in the equity and the related schedules including the appointment of an auditor for the fiscal year 2083/84.

Presently, the development bank has a paid-up capital of Rs 6.02 billion and Rs 22 per cent after the bonus share distribution, which will reach Rs 6.62 billion and paid-up capital of Rs 6.62 billion.