Kathmandu. Nabil Bank has called its 41st Annual General Meeting.

The meeting of the Board of Directors of the bank held on Sunday decided to hold the AGM on January 12. The meeting will begin at 11:15 am at the Tribhuvan Army Officers’ Club in Bhadrakali, Kathmandu.

The meeting held the last fiscal year 2081. The meeting will approve 12.5 percent cash dividend (including tax) of the current paid-up capital proposed for the current fiscal year. The meeting will approve the annual report of the last fiscal year and the financial report of the auditor and approve the proposal regarding the appointment of the auditor for the current fiscal year and determination of his/her remuneration.

The AGM will also approve the financial statements of its subsidiary companies Nabil Investment Banking and Nabil Stock Dealers for the last fiscal year. The AGM shall elect one director representing the promoter shareholders.

The meeting will open the door for merger or acquisition of other suitable banks and financial institutions. The meeting shall approve a special proposal to delegate the entire authority to the Board of Directors to carry out the necessary process for this purpose.

The meeting shall also pass a resolution authorizing the Board of Directors to carry out the suggestions or directives received from the regulatory bodies while amending the Memorandum of Association and Regulations.

The bank has decided to close the book on December 30 for the purpose of dividend and meeting. This means that only the shareholders who have remained in the bank before January 1 will be eligible to receive the dividend and participate in the meeting.