Kathmandu. The annual general meeting of Nepal Credit and Commerce Bank Limited is scheduled to be held on January 25. As per the decision of the Board of Directors meeting held on Thursday, January 3, the 23rd Annual General Meeting of the Bank will be held on Friday, January 26 at the Bank's Central Office, Bagbazar, Kathmandu from 10 am onwards.

As per the decision taken at the meeting of the Board of Directors of the bank held on Friday, December 19, it is proposed to distribute 10.2695 percent bonus and 0.5405 percent cash (for tax purposes) to the shareholders of the bank from the profits of the fiscal year 2076/77.

National or internationally accredited appraisers to identify and select suitable banks or financial institutions for the purpose of acquiring or merging any other banks and financial institutions, sign MoUs and enter into foreign strategic partnerships. A proposal to give authority to the board of directors to make appointments will also be tabled in the assembly.

In addition, on behalf of the Board of Directors of the Bank, the Chairman will discuss and pass the annual report of the Fiscal Year 2076/77, the audit report of the Fiscal Year 2076/77, balance sheet, profit and loss account and cash flow statement for the same period. There are agendas for the year 2077/78 including appointment of auditor and determination of remuneration.

Similarly, the bank has decided to close the book for one day on December 6 for the purpose of general meeting and dividend distribution. Therefore, only the existing shareholders who have traded in Nepse till December 6 will be able to participate in the general meeting and receive dividends.