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Money Matters News In Brief ( 11 - 17 November 2013)

  2 min 50 sec to read

Om to Issue Debenture
Om Finance has said that it is going to issue the debentures. The Annual General Meeting of the Company held recently has granted the authority to the Board of Directors (BOD) to issue debentures worth Rs 200 million. The AGM has also approved the proposal to provide 20 per cent bonus share and 5 per cent cash dividend to its share holders. The paid-up capital of the Company will reach Rs 325.7 million after distributing bonus shares. The Company has collected a total deposit amount Rs 3.24 billion rupees by mid July of last Fiscal year, while it floated the loan worth Rs 3.24 billion. 
 
7.37pc Dividend of Axis
Axis Development Bank Ltd has said that it will distribute 7.37 per cent cash dividend to its share holders. The Annual General Meeting (AGM) of the Bank held at Dhulikhel last Thursday approved the decision of dividend distribution. Chairman Bidur Dhamala presented the financial report of the Fiscal Year 2012-13 during the AGM. According to the report, the Bank has collected the total deposit amount Rs 1.57 billion as of mid July of 1013. The Bank has said that the amount is 51.47 per cent higher than the previous Fiscal Year.  Likewise, the total amount of the loan floated by the bank has reached 1.67 billion in the review period.  The Company has the paid-up capital of worth Rs 718 million rupees.  The Bank, headquartered at Hattisar in Kathmandu, has its branches in Banepa, Khurkhure, Parbatipur, Tandi, Pokhara, Hetauda, Narayangadh, Itahari, Gaighaat and Sindhuli.
 
Gandaki’s Shares Listed
700,000 units of share worth Rs700 million of Gandaki Development Bank have been listed in Nepal Stock Exchange (NEPSE). The Bank issued this scrip from August 11 to September 15. 3,200,000 units including rights shares of the Bank can now be traded at NEPSE. According to acting chief of the company, the Bank has the authorised capital of Rs 400 million and paid-up capital of Rs 320 million. The Bank, headquartered at Pokhara, has 16 branches in 10 districts.
 
Diyo’s 15pc Dividend Approved
Diyo Saving and Credit Cooperative Ltd has decided to distribute 15 per cent dividend to its shareholders. Company’s Annual General Meeting held last week made the decision to this effect. According to company’s chairman Bikash Thapa, the total deposit has reached Rs 58.9 million and extended a total of Rs 55 million as loans until the end of Fiscal Year 2012-13. It has earned Rs 2.1 million profit in the review period, said the Company.
 
Citizens Branch at Jajarkot
Citizens Bank International Ltd has established branch office at Khalanga in Jajarkot. Bank’s Assistant General Manager Ganesh Raj Pokhrel inaugurated the newly established branch office amid a function at Khalanga last Friday. Now, the Bank’s total number of branches has reached 36. Speaking at the inaugural function, Pokhrel said that the branch was established to provide banking services of international standard to the people of Jajarkot. The customers will get remittance, draft, Visa, ATM Card, modern mobile banking and other banking services from the branch. 

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