24th AGM of Machhapuchhre Bank concluded

KATHMANDU: The 24th annual general meeting (AGM) of Machhapuchhre Bank has passed the annual report for the year 2078/79 BS. and also decided to appoint SAR Associates auditors for the year 2079/80 BS.

The bank has managed to increase the size of the balance sheet by 13 percent by earning a net profit of Rs 1.68 billion in the year 2078/79. Similarly, during the same period, the bank's total deposits reached 150.10 billion rupees. According to the bank, the total loan has reached 131.27 billion rupees.

In addition, the bank has increased its investment by 23.08 percent to Rs 24.13 billion in the last year. It is said that the bank has managed to maintain a non-performing loan ratio of 1.04 percent.

The AGM of the bank was held in Kathmandu, on behalf of the shareholders of the promoter group. Dr.Upendra Mahato, Roshan KC and Haribhakta Sigdel have been elected unopposed as members of the Board of Directors.