Kathmandu, Nepal – November 16, 2024: Swabalamban Laghubitta Bittiya Sanstha Ltd., a prominent microfinance institution in Nepal, successfully held its 23rd Annual General Meeting on November 15, 2024. The meeting, chaired by Chairperson Dr. Sumitra Manandhar Gurung, focused on the institution's financial growth, expansion plans, and commitment to sustainable development.
During the fiscal year 2080/81, Swabalamban reported an impressive total revenue of NPR 1.45 billion, with a net profit of NPR 359,783,856 marking a growth of 12.36% and 33.80% in revenue and net profit, respectively. The AGM approved in total a 15% dividend for shareholders, reflecting the institution’s solid financial performance.
Swabalamban Laghubitta serves both urban and rural areas across Nepal, providing essential microfinance services to support underserved communities. With a focus on financial inclusion, it currently operates in 61 districts with 145 branches/sub-branches, reaching over 261,745 members, of which NPR 14,656,625,000 shareholders total investment. As part of its mission, Swabalamban Laghubitta is dedicated to uplifting socio-economic conditions through sustainable practices and high-quality financial services.
The institution also used the AGM as an opportunity to elect Mr. Rabin Kumar Shrestha as its board of director member from the shareholders and appointed to Shree Sundar and Company Charter Accountants an auditor for the upcoming fiscal year. Furthermore, the meeting addressed future plans to merge with other financial institutions, emphasizing the need for a sustainable business model that would expand its reach and impact.
Swabalamban's commitment to environmental and social sustainability aligns with Nepal's national agenda for inclusive financial services, showcasing its role as a significant contributor to the economic empowerment of marginalized communities while upholding eco-friendly practices across the country.
