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Century Bank will distribute 2 figure bonus in Current FY: Chairman Jul 03, 2017 Merolagani   Century Bank has assured its shareholders of providing a generous dividend in the current FY. The bank announced of providing two figured bonus and cash dividend to its shareholders in the special general meeting held on Sunday, June 2. Century Bank, that acquired Araniko and Innovative Bank recently, started a joint transaction on Sunday after acquiring Sagarmatha Finance. The bank approved a swap ratio of 100:95 for the acquisition in the SGM. Moreover, the bank is also acquiring Alpine Development Bank and Seti Finance. In this way, the bank will easily meet the minimum paid-up capital of Rs 8 billion following the five acquisitions and 40 percent right issue. Presently, the bank has paid-up capital of Rs 4.71 billion which will reach Rs 6.51 billion after the right share issuance maintained after the acquisition of Araniko and Innovative Bank.  Furthermore, the paid-up capital wil

Prabhu Insurance to issue 50% right shares from 30th Chaitra Mar 21, 2017 merolagani   Prabhu Insurance Limited ( PRIN ) will be issuing 50% right shares from 30 th  Chaitra, 2073. The company will be issuing 19,25,078.81 unit shares at the face value of Rs 100 per unit via right issue to its shareholders. The insurance company had closed its shareholder register on 6 th  Chaitra, 2073 for the purpose of right shares. Shareholders owning the shares of the company one trading day ahead of the book closure date i.e. 3 rd  Chaitra, 2073 are eligible to apply for the right shares. Prabhu Capital Limited is the assigned issue manager for the right issue. Eligible and interested shareholders can apply from Prabhu Capital, Durbarmarg, Kathmandu or from any of the official branch office of Prabhu Bank Limited. The right issue will close on 2 nd  Jestha, 2074. The company has paid up capital of Rs 38.50 crores. Issuance of right shares will increase the paid up capital of the compa

Lumbini General Insurance to issue 100% right shares: Jun 27, 2017 Merolagani   Lumbini General Insurance Company ( LGIL ) is issuing 1:1 right shares from July 14. The company is issuing 3.9 million units of right shares with a face value of Rs 100 through its issue manager CBIL Capital. Presently, the company has the paid-up capital of Rs 390 million which will reach Rs 780 million after the right share issuance.  The company needs to add Rs 220 million in its paid-up capital to meet the minim The investors registered by the book by June 26 can apply for the shares from July 14 to August 17. Interested investors can apply for the shares from CBIL Capital, Dillibazaar, branch offices of Citizens International Bank at Thimi, Kupondole, Gwarko, Boudha, Kalanki, Biratamod, Biratnagar, Dharan, Birgunj, Narayangadh, Janakpur, Butwal, Pokhara, Nepalgunj, Dhangadhi and Mahendranagar. LGIL has earned Rs 116.1 million net profit by the third quarter of the current FY. Its earning

See how mutual funds performed during downtrend; what's up in recent months: Mar 10, 2017 merolagani   NEPSE index hit 1881 points on 12 th  Shrawan, 2073 marking Nepalese stock market’s all-time high. At its peak, NEPSE’s day turnover stood over Rs 2.26 arab. However, within eight months NEPSE plunged by over 550 points and currently hovers around 1347 points with total market capitalization of Rs 1520 arab. During the time period market has tumbled to 1252 points making 52-weeks low.  As stock market tumbled and assets sold-off, lots of individual investor bared heavy losses in their portfolios. But is it only the naïve and “part-time” investors that faced the loss, or also the watchful and expertized institutional investors? From its peak point at 1881 on 12 th  Shrawan, 2073 to 1329 points on 19 th  Falgun, 2073, NEPSE declined by 552 points i.e. 29.34%. Considering NEPSE index as the benchmark, let’s compare the performances of existing mutual fund schemes, me

NRB Terminates Limited Banking Transaction License of Nepal Multipurpose Cooperative: Nepal Rastra Bank (NRB) has terminated Limited Banking Transaction License provided to Nepal Multipurpose Cooperative Ltd. NRB terminated the license of the institution on the ground of acting against institutional governance. Nepal Multipurpose Cooperative that is registered in District Cooperative Office, Jhapa on Falgun 2050 as per the Co-operative Act 2048 got the license for Limited Banking Transaction from NRB on Mangsir 2052. According to NRB, the organization has been involved in acts against the provisions mentioned during licensing. The co-operative has been found providing overdraft natured loans, involvement of Managing Director in granting loan on his own collateral through a committee he incorporates and provided loans to members of immediate family. The central bank concludes that the co-operative has gone against the institutional governance practices by interfering in dai