The Banker magazine has awarded Standard Chartered the prestigious `Bank of the Year 2009' award for Nepal. The award reflects Standard Chartered's growth in Nepal, as a key part of its long-term strategic commitment to Asia.
The award comes on the back of a strong performance that the bank achieved during the fiscal year 2008-09. The bank has rewarded its shareholders by providing a cash dividend of 50 per cent and issued bonus share of one for each two shares held.
SCB Nepal continues to be one of the most respected and reputed brands in the country, with robust governance and compliance standards.
The bank today commands a strong share of the total market capitalisation which exceeds 10 per cent Standard Chartered was also named as `Best Bank for Asia' -- cementing its position as the one of the leading banking groups across Asia.
Banker's Bank of the Year Awards are regarded as the industry standard for banking excellence.
The winners are judged by their ability to deliver shareholder returns and gain strategic advantage.
Standard Charted chief executive officer Sujit Mundul said, "We are delighted with this victory, and are excited about the future of Standard Chartered in this region. The award recognizes our strong performance over the past 12 months, and supports all our successes and efforts during the difficult operating environment."
Likewise, Jaspal Bindra, CEO Asia, Standard Chartered, comments on the achievement saying, "We are extremely pleased to receive the Banker Award for Best Bank for Asia.
Standard Chartered has been conducting business in Asia for more than 150 years.
The key for us has been to remain focused on our strategy - we do business in markets we know, deal in products we understand and engage with clients with whom we have deep relationships. Our strategy has enabled us to emerge strongly from the crisis, and Standard Chartered is well positioned for growth given our presence and expertise in Asia."
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