<img width="1648" height="512" src="https://superdesk-pro-c.s3.amazonaws.com/sd-nepalitimes/20221110161152/636d1e639c7e80680e0af409png.png" alt=""/>Standard Chartered in its 35th Annual General Meeting recorded operating and net profits of Rs2.01 billion and Rs1.40 billion respectively in 2020/21. The AGM approved payment of cash dividends of 3.06% and bonus shares of 10% to the shareholders. The bank posted a growth of 26% on its risk assets to reach Rs72.95 billion, deposits declined marginally by 3.30% to Rs 95.99 billion.

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Standard Chartered's AGM

<img src="https://superdesk-pro-c.s3.amazonaws.com/sd-nepalitimes/20221110161152/636d1e509c7e80680e0af402jpeg.jpg" alt="" width="3748" height="2811"/>Sanima Bank opened its Balambu branch in Kathmandu this week which was jointly inaugurated by Chairman Tuk Prasad Poudel and brand ambassador duo Madan Krishna Shrestha and Hari Bamsha Acharya.

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Sanima's new branch

<img width="1640" height="720" src="https://superdesk-pro-c.s3.amazonaws.com/sd-nepalitimes/20221110161148/636d1d799c7e80680e0af3b8jpeg.jpg" alt=""/>Laxmi Bank is introducing a month-long #DigitalDecember campaign wherein customers can make QR payments and businesses to enroll as a QR Merchant, three of whom can win Rs5,000 each week via lucky draw and five existing users can win 50% cashback up to Rs500 each day. 500 new Mobile Money users that spend over Rs1000 can win Rs500 cashback.

Laxmi Bank's Digital December

<img src="https://superdesk-pro-c.s3.amazonaws.com/sd-nepalitimes/20221110161144/636d1d119c7e80680e0af391jpeg.jpg" alt="" width="4032" height="2268"/>T he Electricity Grid Modernisation Project that was signed between the Asian Development Bank and the Ministry of Finance in November 2020 has received an additional $60 million loan. The project which had a start in February amounts to $156 million and has been allocated to the Nepal Electricity Authority (NEA). The project aims to strengthen and modernise Nepal’s transmission capacity and electricity distribution system.

Asian Development Bank Loan received

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