October 24: Standard Chartered Bank has recently announced its capital increment plan in a bid to meet the minimum paid-up capital of Rs 8 billion as directed by Nepal Rastra Bank. The bank currently has the paid-up capital of Rs 2.81 billion. 

The bank is distributing 33.33 percent bonus share to its shareholders as per the decision of its 347th board of directors meeting subjected to approval from its annual general meeting and Nepal Rastra Bank. Upon the concerned authorities' approval, the paid-up capital of the bank will reach Rs 3.75 billion after the issuance of bonus share in the FY 2015/16. 

The bank is also planning to float further public offering (FPO) of Rs 3.3 billion at premium to the public. The FPO proposal is also subjected to approval from its AGM, Nepal Rastra Bank, Securities Board of Nepal & Office of the Company Registrar. If the FPO gets float as per the company's plan, the paid-up capital of the bank will reach Rs 7.05 billion. 

As per the capital plan of the bank, the bank will be issuing bonus share worth Rs 1billion in the FY 2016/17 making its total paid-up capital Rs 8.05 billion.