Market Watch
KIST to raise paid up capital to Rs 5b
Published by Octron on November 15, 2009
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The eighth annual general meeting of KIST Bank Ltd held Saturday endorsed the special proposal of the management to raise the paid up capital of the bank to Rs 5 billion from existing Rs 2 billion. To attain it, the AGM has further agreed upon the management´s proposal to go for rights issue in a ratio of 1:1.5 within this fiscal year, states a press release.
During the AGM, the bank also awarded its three best clients and also best performing staffs under six different categories. On the occasion, Chairman of the bank Rajendra Shakya also announced a ´KIST Bank Chairman Revolving Fund´, providing Rs 500,000 in it personally.
According to the release, the interest income of the fund will be used for conferring awards to the top scoring sons and daughters of bank employees at SLC, + 2 and Bachelors level examinations.
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