36th Annual General Meeting of Standard Chartered Bank Nepal Limited

Kathmandu, Dec 12. The 36th Annual General Meeting of Standard Chartered Bank Nepal Limited (SCBNL), chaired by Ms. Zarin Daruwala, Chairperson of the Bank, was successfully held at Army Officers Club in Bhadrakali, Kathmandu on 11 December 2022.

SCBNL has recorded an Operating Profit and Net Profit of NPR 3.24 billion and NPR 2.26 billion respectively for the Financial Year 2021/22. At the close of FY 2021/22, the Bank was able to post a growth of 24.8 percent on its Risk Assets over the previous year, to reach NPR 91 billion. Similarly, deposits grew by 6.2 percent to reach NPR 102 billion. As proposed by the Board of Directors, the AGM approved a payment of cash dividend of 16.51 percent of paid-up capital as at 16 July 2022 to the shareholders of the Bank for FY 2021/22. The Chairperson of the Bank, Ms. Daruwala thanked all the investors, clients, regulators, employees, and other stakeholders for their continued support.

She added, “As external conditions continued to remain fluid through the FY, we adapted with dynamism to a constantly changing landscape. Our management team and staff in Nepal have demonstrated exemplary spirit and rallied together as One Bank, despite the challenges. The perseverance and collective efforts of our colleagues have helped us maintain our focus on delivering interests of shareholders, enhancing client experience, and ensuring the wellbeing of our colleagues, clients, and the communities that we operate in.”

The AGM also appointed a new Public Director Mr. Avinash Agrawal, a businessman with diverse investment portfolio. Standard Chartered Group holds 70.21 percent and the general public hold 29.79 percent shares in Standard Chartered Bank Nepal Limited.