35th Annual General Meeting of Standard Chartered Bank Nepal held Business 360

35th Annual General Meeting of Standard Chartered Bank Nepal held

KATHMANDU: Standard Chartered Bank Nepal held its 35th Annual General Meeting (AGM) on Tuesday.

Considering the Covid 19 situation this year, the AGM chaired by the bank’s Chairman Zarin Daruwala was conducted in a hybrid model from the bank’s head office in New Baneshwor, Kathmandu.

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

She said, “The Board of Standard Chartered Bank Nepal is committed to maintaining the highest level of corporate governance, continuously improving transparency in its functioning and in ensuring the 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% and the general public holds 29.79% shares in Standard Chartered Bank Nepal Limited.

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