Kumari Bank announces bookclose for 20% right shares; Checkout the date and Company's financials

As endorsed by Company's 16th AGM held on 9th Chaitra, 2073, Kumari bank will issue right share at a ratio 10:2. For this purpose, Company has announced the book close date. Kumari Bank has set 10th Baisakh, 2075 as the book closing day for the stated purpose. Shareholders having the shares at the time of bookclose will be eligible for the right.

The company currently has a paid up capital of Rs 5.96 arba which will expand to Rs 7.15 arba after the issuance of right. Kumari Bank will further need (11.86%) Rs 84.8 crore in order to meet the capital requirement.  

ICRA Nepal has assigned 4+ grading for the upcoming right issue. Whereas the bank has appointed NIBL ACE Capital as the issue manager. 

Financial Performance of Kumari Bank 

As per the 2nd quarter report 2074/75, Kumari bank had earned a net profit of Rs 48.02 crore showing a YoY growth of 71.90% . The company had an eps of Rs 16.09 which looks decent as compared to the industry. The bank has Rs 2.59 arba in its reserve, making its per share networth Rs 143.40 . The bank is currently trading at a price 1.75 times the networth. looking at the 2nd quarter data, the company has shown an exciting growth in its deposit and lending. The company had recently acquired 3 development banks and a finance company, thus increasing the company's business size.