Tuesday, January 18, 2022

35th Annual General Meeting of Standard Chartered Bank Nepal Limited

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Kathmandu, 15 December (2021) – The 35th Annual General Meeting of Standard Chartered Bank Nepal Limited, chaired by Ms. Zarin Daruwala, Chairman of the Bank, was successfully held on Tuesday. Considering the Covid -19 situation this year, AGM was conducted in a hybrid model from Head Office Naya Baneshwore. 

Standard Chartered has recorded an Operating Profit and Net Profit of NPR 2.01 billion and NPR 1.40 billion respectively for the Financial Year 2020/21. As at the close of FY 2020/21, the Bank was able to post a growth of 26 percent on its Risk Assets over the previous year to reach NPR 72.95 billion. However, deposits declined marginally by 3.30 percent to reach NPR 95.99 billion. As proposed by the Board of Directors, the AGM approved payment of cash dividend of 3.06 percent and bonus shares of 10 percent to the shareholders of the Bank for financial year ended 15 July 2021. Ms Daruwala thanked all the investors, clients, regulators, employees, and other stakeholders for their continued support. 

She added “The Board of Standard Chartered Bank Nepal Limited is committed towards maintaining the highest level of corporate governance, continuously improving transparency in its functioning and in ensuring sustainable long-term growth of the Bank. As the only international bank in the country, we look forward to continuing our role as ambassadors to position Nepal to contribute in attracting investment and supporting the economy to collectively ride out the economic impact of COVID 19.”

Standard Chartered Group holds 70.21 percent and the general public hold 29.79 percent shares in Standard Chartered Bank Nepal Limited. 
 

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