Joint Operation in the name of Bank of Kathmandu Lumbini Ltd.
Bank of Kathmandu Ltd. and Lumbini Bank Ltd. have successfully completed the merger process and commenced Joint Operation in the name of Bank of Kathmandu Lumbini Ltd. from today.
Bank of Kathmandu Lumbini Limited’s newly appointed Boards of Directors are as follows :
Representing Bank of Kathmandu Ltd. are : Mr. Satya Narayan Manandhar (Promoter), Mr. Santa Bar Singh Thapa (Promoter), Mr. Govinda Prasad Sharma (Public), Mr. Chop Narayan Shrestha (Public), Professor Hem Raj Subedi, Ph. D (Public).
Representing Lumbini Bank Ltd. are : Mr. Kedar Nath Gautam (Promoter), Mr. Subarna Lal Shrestha (Promoter), Mr. Madan Lal Joshi (Public) and Mr. Dibyanidhi Bista (Professional Director).
The newly formed Board of Directors have unanimously elected Mr. Satya Narayan Manandhar as the Chairman of Bank of Kathmandu Lumbini Limited. The Board also appointed Mr. Ajay Shrestha as the Chief Executive Officer of Bank of Kathmandu Lumbini Limited.
Bank of Kathmandu Lumbini Ltd.’s Board of Directors meeting held on December 15, 2016 has decided to propose Stock Dividend (Bonus Share) amounting to NRs. 1,052.68 million (23% of Paid Up Capital of July 15, 2016).
The bonus share of FY 2015/16 will be issued after the approvals of Nepal Rastra Bank, Annual General Meeting of the Bank and completion of the necessary procedures for bonus share issue.