NMB Capital named issue manager for SCBNL FPO

Published On: January 15, 2017 09:30 PM NPT By: Republica  | @RepublicaNepal

KATHMANDU, Jan 16: Standard Chartered Bank Nepal Ltd (SCBNL) has appointed NMB Capital Ltd as the issue manager to raise Rs 3.3 billion through a Further Public Offering (FPO) to meet the new paid-up capital requirement.

Commercial banks must raise their paid-up capital from Rs 2 billion to Rs 8 billion by mid-July 2017. Joseph Silvanus, CEO of the bank and Shreejesh Ghimire, CEO of NMB Capital Ltd signed the agreement for the same on Sunday.

Issuing a statement, the bank said that it firmly believe in the long-term prospects of its business in Nepal and in the country’s growth potential.

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