Laxmi Bank concludes sixth AGM, operating profit jumps by 50 percent

Laxmi Bank concluded its sixth AGM on Friday at Birgunj, where the bank celebrated its achievement of a sound growth during this year.

According to its financial reports, the bank was successful in increasing the Operating Profit by more than 50% over the previous year." Further the Bank's lending and deposit volumes also grew by 57% and 46% respectively," states a press release issued by the bank.

The press release adds that the AGM approved the proposal to increase the Paid Up Capital of the Bank from Rs 610 million to Rs 800 million.

"As a first step towards this, it was decided that the Bank would issue Rights Share at a ratio of 5:1 which will result in a Paid Up Capital of Rs 732 million during the running financial year," the release adds. nepalnews.com sd Dec 08 06

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