Kathmandu. Shangrila Development Bank Limited has concluded its 21st Annual General Meeting. The AGM of the bank was held on Monday. The AGM of the bank has endorsed 10.3583 percent dividend.

The bank has approved a proposal of distributing 5.3583 per cent cash dividend (including tax) of Rs 195,53,626.30 and bonus shares worth Rs 17,78,12,785.98 on the paid-up capital of Rs 3.55 billion.

After the dividend distribution, the paid up capital of the company will reach Rs 3.73 billion. The AGM also endorsed the proposal of appointment of auditor, amendment of memorandum of understanding and merger and acquisition along with financial statements of FY 081÷82.

Currently, the bank has been providing its services through 109 branches and 30 ATMs across the country. Shangrila Development Bank, which has been following the best practices of corporate governance, risk management and internal control system, expresses its commitment to further expand its services in the days ahead.