The 36th Annual General Meeting (AGM) of the Standard Chartered Bank Nepal on Sunday approved a cash dividend of 16.51 percent to its shareholders from the profit of the last fiscal year that ended mid-July 2022. The AGM chaired by Zarin Daruwala, chairperson of the bank, announced that the bank recorded an operating profit and net profit of Rs3.24 billion and Rs2.26 billion, respectively. 

The bank said it was able to post a growth of 24.8 percent on its risk assets over the previous year and such assets have now reached Rs91 billion. According to the bank, its deposits grew 6.2 percent to Rs102 billion. 

“As external conditions continued to remain fluid through the fiscal year, 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,” said Daruwala. The AGM also appointed a new Public Director Avinash Agrawal, a businessman with a diverse investment portfolio. 

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