Jyoti Bikas Bank's 17th AGM elects five directors

KATHMANDU:Jyoti Bikas Bank had its 17th Annual General Meeting (AGM) in Kathmandu on Monday.

The AGM was chaired by Hari Chandra Khadka, Chairman of the Bank's Board of Directors.

Members of the bank's Board of Directors, former Chairmen and Directors, shareholders, various officials, and bank workers all attended the AGM.

The AGM passed the bank's Board of Directors' annual report for fiscal year 2080/81, as well as a proposal to discuss and approve the annual financial statements, including the balance sheet, profit and loss account, and cash flow statement, up to the end of Ashad 2081, including the auditor's report.

In addition, the AGM elected Hari Chandra Khadka, Ram Kumar Shrestha, and Santosh Adhikari on behalf of the bank's founding shareholders, as well as Dhruv Koirala and Naresh Raj Acharya on behalf of the general shareholders, as directors of the Board of Directors for the next four years without unopposed.

The meeting appointed an auditor to audit the bank's accounts for fiscal year 2081/82, as well as debated and approved the bank's consolidated financial statements, including those of its subsidiary Jyoti Capital for fiscal year 2080/81.

Jyoti Bikas Bank's current paid-up capital is Rs 4 billion 39 crore 57 million lakh 85 thousand rupees.

The bank is currently providing banking services through 121 branch offices, 3 extended counters and 75 ATMs in and outside the valley.