Standard Chartered Bank posts net profit fo Rs 1.22 billion

Standard Chartered Bank Nepal Ltd successfully organised its 27th annual general meeting, which was chaired by chairman of the bank Sunil Kaushal, in Kathmandu, on Tuesday.

The bank continued to record a revenue growth during financial year ended 2012-13. SCB Nepal’s operating profit and net profit for the period were recorded at a level of Rs 1.86 billion and Rs 1.22 billion, respectively. The growth in net profit was 4.2 per cent over the previous year.

Similarly, the bank was also able to post a growth of 16.6 per cent on its risk assets level, which stood at Rs 22.83 billion as at the close of fiscal year 2012-13.

As proposed by the Board of Directors, the AGM approved the payment of dividend of 40 per cent and bonus shares at the rate of 10 per cent, to its shareholders for the year ended July 15, 2013.

Kaushal thanked all the investors and customers for their support and in enabling the bank to attain greater heights. On the occasion, he also thanked the employees for their hard work, professionalism and commitment.

“We remain confident and committed to consistent financial delivery. The bank has been able to deliver another year of record income and profits which indicates that we are consistently moving ahead with the right strategy and the right leadership to deliver value for our shareholders,” Kaushal said. “We are putting renewed focus on our clients and customers, on building deep and long-standing relationships, and on improving service delivery and solutions.”
-The Himalayan Times