12th Annual General Meeting (AGM) of Civil Bank Limited was held on Thursday, 12 January at Amrit Bhog Banquet located in Kalikasthan. As proposed by the board of directors from the general meeting, it has been unanimously approved to distribute bonus shares equal to 5% of the bank's paid-up capital and 0.26% cash dividend per share for tax purposes.
In addition, the Assembly appointed "S Rai and Associates" as auditors to conduct the audit this year, in the context of the acquisition of Civil Bank Limited by Himalayan Bank Limited, 80.28 shares of Himalayan Bank Limited equal to 100 shares of that bank will be exchanged.
Bank Chairman Pratap Jung Pandey thanked all those present in the meeting for passing all the resolutions of the general meeting. Also, expressing special gratitude to the merger committee of Civil Bank, Pandey said that after the final approval of Nepal Rastra Bank, the integrated transaction of both banks is planned to be done within January 2023.
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