Asian Life Insurance Increases Shareholding in Prabhu Bank

Kathmandu – Asian Life Insurance Company has increased its shareholding in Prabhu Bank Limited, emerging as the largest shareholder with a 5.63 percent stake.

According to the bank’s details for the fiscal year 2081/82, only 12 institutional and individual shareholders currently hold more than 0.5 percent of the bank’s total shares. Among them, Asian Life Insurance tops the list, having raised its ownership from 4.99 percent in the previous fiscal year to 5.63 percent.

Gaurav Agarwal holds the second-largest stake with 2.71 percent, followed by the Employees Provident Fund with 2.53 percent. Prabhu Group owns 0.99 percent of the shares, while Mijas Bhattachan holds 0.80 percent. Similarly, Sudip Acharya owns 0.60 percent of the bank’s shares.

Other major shareholders include Gyanu Shrestha with a 0.58 percent stake, Rajendra Bhattachan and Swaroop Gurung with 0.57 percent each, and Nepal Investment Pvt. Ltd. with 0.52 percent. Shivam Cement owns 0.51 percent of the shares, while Sun Nepal Life Insurance holds a 0.50 percent stake in the bank.

Meanwhile, Ambika Sharma Lamichhane, who held a 0.60 percent stake in the fiscal year 2080/81, has been dropped from the list of major shareholders in the current fiscal year.