StanChart in Birgunj with its 16th Outlet

Standard Chartered Bank Nepal Ltd established one more mark in the Tarai region with its 16th outlet in Adarshanagar of Birgunj in Parsa district today.

The new branch, located in the heart of the city, will offer the full range of banking services, said bank CEO Sujit Mundul while inaugurating the branch.

"The expansion of branches depends on our organisation's market strategy. This particular branch is a part of our strategic strategy and also a platform to fulfill our commitment to a wide range of corporate clients operating in Birgunj," he said adding that there has been a constant addition in the number of players over the last year.

With 16 points of representation and 17 ATMs across the country, Standard Chartered Bank Nepal Ltd is in a unique position to provide truly international banking services to its customers through an extensive domestic and global network.

Standard Charted Bank Nepal Ltd, the only interna tional bank in the country, offers a full range of products and services under consumer and wholesale banking divisions catering to a wide range of customers.

"We have seen similar phenomenon in other markets but the only difference is that the other markets are growing whereas Nepal is not growing to that extent. Hence, we will adopt a strategy to appropriately respond to the new paradigm," Mundul added.

"Apparently, the Nepali financial market does not seem impacted by the global meltdown. Nevertheless, Nepal has critical dependence on larger economies both in terms of import and export, including remittance," he said.

Mundul added, "The contagion effect of the global economy cannot be overlooked under any circumstances. I would like to add that Nepal is not decoupled from the rest of economies. The government and the central bank - Nepal Rastra Bank should remain vigilant and flexible in order to manage drag effects, albeit at lower velocity in the near future."
Source:The Himalayan Times