Standard Chartered Bank AGM approves 100 percent bonus share «

Standard Chartered Bank AGM approves 100 percent bonus share

The 31stAGM of Standard Chartered Bank Nepal, chaired by Jitender Arora, Chairman of the Bank, on Wednesday approved payment of cash dividend of 5.26 percent (for tax purposes) and bonus shares at the rate of 100 percent.
Standard Chartered has recorded an operating profit and net profit of Rs 1.98 billion and Rs 1.42 billion respectively for the financial year 2016-17. As at the close of the financial year 2016-17, the bank was able to post a healthy growth of 25 percent on its risk assets over the previous year to reach Rs 39.73 billion.
The bank also achieved a decent deposit growth of over 14.62 percent vis-à-vis previous financial year to reach Rs 63.87 billion.
Jitender Arora, Chairman of the Bank thanked all the investors, clients, regulators and other stakeholders for their continued support. He also thanked the employees for their effort and dedication.
Arora added “We are taking continuous actions in getting leaner and more focused. We are also creating the capacity to invest and in the process, have set clear performance priorities to achieve profitable and sustainable growth.” He further said, “We remain committed to Nepal’s economic growth by supporting our clients and customers in different ways.”
Standard Chartered Group holds 70.21 percent and the general public hold 29.79 percent shares in Standard Chartered Bank Nepal Limited.