Standard Chartered Bank Nepal concludes 37th AGM

The 37th 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 10 December 2023.

SCBNL has recorded an Operating Profit of NPR 4.97 billion for the Financial Year 2022/23. The Bank’s income grew by 47% to NPR 7.8 billion and Profit After Tax (PAT) by 53.6% to NPR 3.5 billion. Our continued focus on efficiency helped our Return on Equity (RoE) grow to 20.8% this year from a base of 14.2% last year. As recommended by the Board of Directors, we have announced a cash dividend of 19% of paid-up capital, which is one of the highest in the last five years, and an increase of 2.5% from last year. 

The Chairperson of the Bank, Ms. Daruwala thanked all the investors, clients, regulators, employees, and other stakeholders for their continued support. She added, “Our focus on robust risk management foundations and our strategy of optimising capital has given us one of the highest financial returns in the history of the Bank’s operations in the country. We will continue to deliver on improving financial performance, as executing our strategy for better shareholder returns remains our primary focus area. At the Management and Group level, we have shifted our focus to measuring Return on Tangible Equity (RoTE), which drives our approach in measuring financial returns. This year’s performance is a testament to our teams’ perseverance to deliver our strategy, while living up to the Bank’s valued behaviours of ‘Do the right thing’, ‘Never settle’, and ‘Better together.’” 

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