Civil Bank AGM on January 7, Prime Commercial's on Jan 10, 2014.

Civil Bank Limited is holding its third Annual General Meeting on January 7.

According to a public notice issued by the young commercial bank today, the AGM will endorse 5.75 percent cash dividend to the shareholders from the net profit it posted in the last fiscal year 2069/70.

The AGM is also scheduled to give full mandate to the BoD to carry forward merger with other BFIs and even explore possibilities of joint venture with foreign banks.

Civil Bank had posted a net profit of Rs.12.12 crore in the last fiscal year 2069/70.

Its EPS (annualized) stands at Rs 2.49 and net worth per share at Rs 939.

The bank, which is entering into a merger with Axis Development Bank and

Civil Merchant Finance Company, is expected to offer much better dividend from the current fiscal year.
 
Since October Nepal Stock Exchange Limited has suspended the trading of the shares of Civil Bank Limited, Civil Merchant and Axis Development Bank for the merger.
 
Civil Bank and Civil Merchant Bittiya Sanstha are owned by the Civil Group while Axis Development Bank was formed following the merger of Pashupati Development Bank and Udyam Development Bank.
 
Civil Bank has a paid-up capital of Rs 2 arba, reserve and surplus of Rs 15.3 crore. It had posted a net profit of Rs 12.12 crore in the last fiscal year.

Prime Commercial Bank will be holding its Annual General Meeting on January 10, 2014.

The sixth AGM of the commercial bank is due to endorse 15 percent dividend, including 10 percent bonus shares, to the shareholders from the net profit it posted in the last fiscal year 2069/70.

The commercial bank had posted a hefty growth in profit in the fiscal year of 2069/70 — a 78.06 percent rise compared to the net profit it made in the previous fiscal year of 2068/69.

The bank earned a profit of Rs 47.97 crore in the last fiscal year  against Rs 26.94 crore reported in the previous fiscal year.

The bank’s nonperforming assets (NPA), however, rose from 0.76 percent in the previous fiscal to 2.23 this year.

The bank’s deposits increased 20 percent to Rs 28.81 arba. Likewise, its loans and advances grew 12.24 percent to Rs 21.21 arba.