BoK holds AGM

The 16th AGM of Bank of Kathmandu (BoK) on Sunday approved 15 per cent bonus shares and 15 per cent cash dividend to its shareholders. While highlighting the Bank’s overall progress in the fiscal year 2009-10, chairman of the Bank, Narendra Kumar Basnyat said that the bank has managed to earn a net profit of around Rs 510 million in the fiscal year, which is an increment of 10 per cent compared to a fiscal ago. The total deposits at the end of the last fiscal year stood at Rs 20 billion, an increment of 12 per cent compared with a fiscal year ago. Similarly, loans and advances increased by 14 per cent at the end of 2009-10 with total lending of Rs 17 billion. During the period the Bank also added nine new branches which takes the total number of its branches to 37. The bank also runs six service counters and a network of 41 ATM counters across the country.