Standard Chartered Bank Nepal Ltd. – 23rd Annual General Meeting (AGM)

Wednesday 4 November 2009

The 23rd AGM of Standard Chartered Bank Nepal Limited (SCBNL), Chaired by Mr.Neeraj Swaroop, Director of SCBNL, was successfully convened on Wednesday, 4 November 2009 at the Tribhuwan Army Officer’s Club, Kathmandu.

The Bank has been able to record an impressive revenue growth during the year. The Bank’s Operating Profit and Net Profit for FYE 2008/2009 stood at a level of Rs.1.51 billion and Rs. 1.03 billion respectively which translates into a growth of 20.64% and 25.18% vis-à-vis the previous year. Similarly, the Bank was also able to post a growth of 20.60% on its Deposit level which stood at Rs. 35.87 billion as at close of FYE 2008/09.

As proposed by the Board of Directors, the AGM approved the payment of dividend of 50% in cash and issue of bonus share of 1 for each 2 shares held for the year ended 15 July 2009.

Speaking on the occasion Mr. Swaroop thanked all the shareholders and customers for their continued support in enabling the Bank to attain greater heights.

Mr. Swaroop further added “The Bank has been continuously delivering on its promises year on year. I am sure we will deliver another year of record performance next year. Let me assure you that we are in a strong position to deal with the emerging challenges and opportunities on an ongoing basis.”

Standard Chartered Group holds 75 % and the Nepalese public hold 25 % shares in Standard Chartered Bank Nepal Limited.