Machhapuchchhre Bankʼs special general meeting concludes
Machhapuchhre Bank is all set to relocate its head office to Kathmandu. A special general meeting of the bank on August 6 decided to shift its head office from Pokhara Lekhnath-9 to Lazimpat in Kathmandu. Currently, the bank's head office is in Pokhara and corporate office is based in Kathmandu. The SGM held under the chairmanship of Roshan KC, Chairman of the bank also approved a proposal of amending an article of associations and regulation in a bid to meet the amended mechanisms of regulatory bodies. The bank with Rs 6.59 billion paid-up capital has forwarded the process of issuing 12 percent right shares to meet the minimum paidup requirement of Rs 8 billion. As of mid-July 2017, the bank has collected a total deposit of Rs 58 billion and has loaned out Rs 51 billion. The bank has made a net profit of Rs 1.30 billion. Presently, the bank is providing its services through 62 nationwide branches, four extension counters and four branchless banking units.