Kathmandu, December 12, 2024 – Himalayan Microfinance Financial Institution convened its annual general meeting today at Bougainvillea Events, Tripureshwar, Kathmandu, starting at 10 AM. However, shareholders left the event empty-handed as the company did not propose any dividend distribution for this fiscal year.
A key highlight of the meeting was the proposal to merge with another microfinance institution, signaling strategic growth plans. The discussion also included the financial performance of the fiscal year 2080–81 (BS) and the appointment of an auditor along with remuneration determination for the fiscal year 2081–82 (BS).
Additionally, the Board of Directors sought authorization to amend the institution's memorandum and articles of association, aiming to align with future goals and regulatory requirements.
While shareholders expressed mixed reactions to the lack of dividends, company representatives emphasized the importance of reinvesting profits to strengthen operations and explore merger opportunities for long-term sustainability.
This development marks a crucial phase for Himalayan Microfinance, with the proposed merger likely to redefine its role in Nepal's financial ecosystem. Further details on the merger and amendments will be revealed in the coming months.
