Swabalamban Laghubitta passed 20 percent dividend

Kathmandu, March 24

The 19th Annual General Meeting of Swabalamban Laghubitta Bittiya Sanstha Ltd. was held in Kathmandu on Wednesday.In the meeting, the Chairman of the company, Ram Kumar Shrestha has passed a proposal to distribute 19 percent bonus and 1 percent cash and 20 percent dividend to the shareholders.

The financial institution has managed to earn a net profit of Rs. 31 crore 91 lakh 26 thousand 791 in the fiscal year 2076/77. The general assembly has also passed the balance sheet, profit and loss account and other financial statements of the fiscal year 2076/77.

As of mid-January of the current fiscal year, it has been providing microfinance services to 246,986 women customer members from 140 branch / sub-branch offices of 61 districts and 9 area offices. During the same period, the outstanding loan amount of financial institutions has reached Rs. 16 arba 55 crore 25 lakh. The savings of the members contributing to the internal capital formation of the financial institution has been Rs. 10 arba 10 crore 5 lakh 17 thousand up to this period.

It has an authorized capital of Rs. 1 arba and operates as a national level microfinance institution with a plan to expand its reach in various himalayan and hilly rural areas of the country.

The General Assembly has decided to maintain the issued and paid up capital of Rs. 94 crore 30 lakh. The General Assembly has unopposed elected Ram Prasad Pandey as one of the directors representing the general shareholders.