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18th Annual General Meeting  
Submitted Date: 2011-01-06, 12:36 pm Submitted by: PPDD Department

Date: January 06, 2011

The 18th Annual General Meeting of Himalayan Bank Limited has been concluded on January 05,2011.

On behalf of the Board of Directors, Mr. Manoj Bahadur Shrestha, Chairman of the Bank, presented the Bank's Annual Report for the fiscal year 2009/10. Presenting the report, Chairman Mr. Shrestha stated with satisfaction that during the period under review, the Bank was able to carry on its activities and operations satisfactorily.

Chairman Mr. Shrestha informed the meeting that the Bank's total deposit reached Rs. 37.611 billion during the period under review, recording an increase of 8.44 percent over the deposit of during the previous year. Similarly, the loans and advances reached Rs. 29.123 billion during the period under review, recording an increase of 14.12 percent.

Apart from the ongoing process, the Bank is developing and launching some technology driven new products and services also. The Bank is planning to establish new branches in at least 6 additional locations and to deploy ATM in additional locations. It is planning to launch chip based EMV debit and credit cards in the near future.

The Bank has been able to earn an operating profit of Rs. 579.231million during the review period. Net profit of the Bank reached Rs. 508.798 million. The Bank has declared a 25 percent bonus share and 11.8421 percent cash dividend on the paid-up capital to the shareholders. Now, after the issuance of the bonus shares from the profit of fiscal year 2066-67, Bank's paid-up capital will be Rs. 2 billion.

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