Strandard Chartered Bank closes one more branch; Hetauda branch takes toll after Bhairahawa branch – ShareSansar

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Standard Chartered Bank Nepal has published a notice stating the bank is closing its branch office at Hetauda.The services provided by the Hetauda branch will now be provided by the Birgunj branch.

Earlier it had shut down its branch office at Bhairahawa. Bhairahawa branch closure happened before the monetary policy 2072 was enacted by the Nepal Rastra Bank (NRB).

The closure of its branches has supported the rumor that Standard Chartered group is planning withdraw its banking business from Nepal.

The bank has yet to submit its capital plan. The NRB has approved request from Nepal SBI and Standard Charter bank to extend the deadline to submit the capital plan.

Diwakar Poudel, Chief Operating Officer of Standard Chartered said, the bank is reorganizing its retail banking. Such decision has been made on the basis of performance, production and various other factors of the branch. He denied rumors that the Standard Charter group is withdrawing banking operation from Nepal.

 

Published on: ShareSansar (Oct 9, 2015)