KATHMANDU: The 30th annual general meeting (AGM) of Standard Chartered Bank Nepal Ltd was successfully held here on Thursday.

Standard Chartered recorded an operating profit and net profit of Rs 1.70 billion and Rs 1.29 billion, respectively for the financial year 2015-16, according to a press statement. At the close of fiscal 2015-16, the bank was able to post a decent growth of 13.11 per cent on its risk assets over the previous year, to reach Rs 31.70 billion.

As proposed by the board of directors, the AGM approved payment of cash dividend of 1.75 per cent and bonus shares at the rate of 33.33 per cent, respectively to the shareholders of the bank for financial year ended July 15, 2016.

The AGM approved the proposal to issue new shares by way of further public offering (FPO) to the public at a premium and also gave authority to the board of directors to carry out all works relating to Rs 3.30 billion worth of FPO to be issued by the bank to reach capital level of Rs eight billion as stipulated by Nepal Rastra Bank.