"The award reflects Standard Chartered´s growth in Nepal, as a key part of our long-term strategic commitment to Asia," the bank said in a statement Sunday, attributing the award for its strong performance in fiscal year 2008/09.
The bank said it holds a strong share of the total market capitalization, which exceeds 10 percent. It also gave its shareholders 50 percent cash dividend and issued a bonus share for every two shares.
"The award recognizes our strong performance over the past 12 months, and supports all our successes and efforts during the difficult operating environment," SCB CEO Sujit Mundul said in the statement. Standard Chartered was also named ´Best Bank for Asia´, the bank said.
"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," Jaspal Bindra, CEO Asia, Standard Chartered was quoted in the statement.
Related story
Standard Chartered Nepal bags ‘Nepal’s Best Bank’ award
