Standard Chartered Bank Nepal has appointed NMB Capital Limited as issue manager for its further public offering (FPO).

The bank said that it will raise Rs3.3 billion through an FPO to meet the Rs8 billion capital in line with the requirement set by Nepal Rastra Bank.

The central bank has directed all A-class banks in Nepal to raise their minimum paid-up capital from the current Rs2 billion to Rs8 billion by mid-July.

The agreement was signed on Sunday between SCBN Chief Executive Officer Joseph Silvanus and Chief Executive Officer of NMB Capital Limited Shreejesh Ghimire.

The bank said it is pursuing an FPO to provide its existing and new shareholders with an opportunity to participate in the capital raising exercise. (PR)