Kathmandu, Jan. 12:
Cosmos Development Bank Limited (CDBL) has said that it would distribute 23.60
per cent bonus and cash dividend Rs. 624,934 from the profits of the fiscal
year 2015/16.
Chairman of the Bank
Prof. Dr. Teknath Dhakal said that the bank was planning to increase the
paid-up capital by Rs. 11,873,750.
According to him, the
bank would be merged with the Shangri-la Development Bank Limited (SDBL).
"The bank has
already signed Memorandum of Understanding (MoU) with the SDBL for the merger.
SDBL is a national level development bank," he said.
The bank mobilised
deposits Rs. 631,469,040 and loans Rs. 493,878,664 in the previous fiscal year
and earned profit Rs. 15,112,172.
CDBL's corporate
office is in Haramtari of Gorkha district.
It has three branch
offices in Arughat, Ghyampesal and Palungtar, and an extension counter in
Chhewetar of Gorkha municipality.
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