KATHMANDU: Zarin Daruwala has been appointed as the Chairman of Standard Chartered Bank, Nepal.

The 407th board meeting of the bank on Friday took a decision to this effect. Earlier, Jitendra Arora was in the charge of Chairmanship.

Standard Chartered Grindlays Bank owns a 46.81 percent share of the bank, while Standard Chartered Bank UK has a 23.40 percent share.

The bank held its 34th annual general meeting on Friday. The bank has passed a proposal for a 4.84 percent cash dividend and a seven percent bonus share from last year’s profits.