Bank of Kathmandu Proposes 13.25% bonus shares; Paid up capital to reach 7.07 arba

The 62nd BoD meeting of Bank of Kathmandu has proposed 13.25% bonus shares to the share holders. The proposed decision is however subject to approval from upcoming AGM and Cental Bank. The company has proposed no Cash dividend for tax purpose, as merged companies as exempted from tax. 

The company had also auctioned promoter shares where hefty amount premium of reserve was accumulated. 

Bank of Kathmandu had a paid-up capital of Rs 6.24 arba. The bonus share will hike the capital to Rs 7.07 arba. The company's capital will still not meet the paid-up requirement laid by central bank. BOKL will need additional 93 crores(13%) in order to meet the requirement of 8 arba