Kathmandu January 5, 2025: Nawakantipur Savings and Credit Cooperative Limited, headquartered in Battisputali, Kathmandu, successfully held its 27th Annual General Meeting (AGM) on Saturday, January 4, 2025 (Poush 20, 2081 B.S.). The meeting, chaired by President Shiva Prasad Sitaula and attended by Damodar Adhikari, Senior Vice President of Nepal Federation of Savings and Credit Cooperative Unions (NEFSCUN), approved the annual progress and financial reports for the fiscal year 2080/81.
The AGM followed a series of preparatory meetings conducted at various service centers. Members from Bhaktapur, Lalitpur, Kavrepalanchok, Nagarjun, Chandragiri, Kirtipur, and Dakshinkali municipalities, as well as wards of Kathmandu Metropolitan City under Unit 1, gathered at Bagbazar on December 25, 2024. Similarly, members under Unit 2, including areas such as Tarakeshwar, Tokha, Budhanilkantha, and Shankharapur, participated in interactive sessions at Shankha Park, Maharajgunj, on December 28, 2024.
During the AGM, the institution reported significant financial achievements. The cooperative's share capital reached NPR 93.4 million, while its total capital and liabilities amounted to NPR 2.63 billion, with a net profit of NPR 17.5 million. In recognition of its members' contributions, the cooperative announced a 6% cash dividend from its share dividend fund.
Nawakantipur Cooperative, registered under the Bagmati Province Cooperative Department in Hetauda, continues to prioritize community and member development through innovative programs. The institution has also honored its senior members and acknowledged employees for exceptional and long-term service. Additionally, it awarded the Nawakantipur S.E.E. Prize to outstanding students, further strengthening its commitment to education and youth development.
The AGM serves as a testament to the cooperative’s growing impact, transparent governance, and commitment to uplifting its members and the broader community.
