Kathmandu, Jan. 9
Sana
Kisan Bikash Laghubitta Bittiya Sanstha Limited, a microfinance company, is set
to distribute 14 per cent bonus shares to its shareholders.
The
23rd Annual General Meeting of the company held in Kathmandu on
Tuesday has approved the proposal of its Chairman Khem Bahadur Pathak to
distribute bonus shares of 13.3 per cent alongside 0.7 per cent cash dividend
for tax purposes from the profits of the last Fiscal Year 2023/24.
According
to the micro-finance institution, it recorded a net profit of Rs. Rs. 921.9
million in the FY 2023/24, an increase of 19.18 per cent from Rs. 773.5 million
in the fiscal year 2022/23. Similarly, its total operating income grew by 31
per cent from Rs. 1.66 billion in 2022/23 to Rs. 2.19 billion last year.
The
SKBL is operating in all 77 districts of Nepal, and it collaborates with 1,692
partner organisations spread across 546 local levels. "It has successfully
provided microfinance services to 1,233,684 families, of which 12 per cent are
Dalits, 34 per cent are from indigenous groups, and 54 per cent belong to other
communities," the company said in a statement.
Women
constitute about 80 per cent of the beneficiaries thus contributing to women's
financial inclusion.
Published in The Rising Nepal daily on 10 January 2025.
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