Kathmandu, January 13, 2025: Jyoti Bikash Bank Limited (JBBL) has successfully concluded its 17th Annual General Meeting (AGM) on 29th Poush, 2081 (January 13, 2025) at Silver Oak Banquet and Events, Gairidhara, Kathmandu. The meeting commenced at 11:00 AM and was attended by shareholders, board members, and other stakeholders.
The AGM deliberated and approved key agendas critical to the bank's operations and growth. Highlights of the meeting included:
1. Financial Highlights: The AGM reviewed and approved the financial performance of JBBL for the fiscal year 2080/81.
2. Auditor Appointment: New auditors were appointed for the upcoming fiscal year.
3. Consolidated Financial Statements: The consolidated financial performance of Jyoti Capital Limited, a subsidiary of JBBL, was presented and endorsed.
4. Election of Directors: Shareholders elected new board members to guide the bank’s strategic directions.
5. Merger and Acquisition Plans: The AGM discussed and endorsed the Due Diligence Audit and Memorandum of Understanding (MoU) for potential mergers or acquisitions, a strategic move aimed at strengthening the bank’s market position.
6. Valuators Appointment: Professional valuators were appointed to facilitate accurate assessments for mergers and acquisitions.
7. Amendments to Official Documents: Amendments to the bank's Memorandum and Articles of Association were approved to align with evolving operational and legal frameworks.
The successful conclusion of the 17th AGM reflects Jyoti Bikash Bank’s commitment to transparency, growth, and delivering value to its stakeholders. Shareholders and attendees lauded the bank’s strategic initiatives and financial resilience.
Jyoti Bikash Bank has reaffirmed its dedication to sustainable growth, aiming to continue serving its customers with innovative banking solutions while exploring strategic opportunities in the financial sector.
