3rd November 2025, Kathmandu
Standard Chartered Bank Nepal Ltd. (SCBNL), a major international player in Nepal’s commercial banking sector, has officially announced and approved the resignation of one of its Board Directors, Ankur Khurana.
Ankur Khurana’s Resignation Approved
This move marks an upcoming and important structural change in the composition of the bank’s highest governing body. Ms. Khurana’s resignation will be formally effective from October 31, 2025 (Kartik 14, 2082 BS), signaling a transition period for the bank as it prepares to appoint a replacement director.
Significance of the Board Transition
Ankur Khurana played a crucial role on the SCBNL Board of Directors, serving as a representative from Standard Chartered Bank UK. As a significant promoter shareholder, the international parent company, Standard Chartered, maintains a vital presence on the local board to ensure strategic alignment, compliance with global standards, and effective risk management between the global entity and its Nepali subsidiary.
The Role of the Promoter Nominee
The resignation of a promoter-nominated director, particularly one representing the founding international shareholder, is an event that necessitates a swift and strategic response. Directors nominated by the parent company, such as Ms. Khurana, typically perform a critical function in:
Strategic Oversight: Ensuring that the local bank’s strategic objectives and business decisions are in harmony with the global vision and policies of the Standard Chartered Group.
Risk and Compliance: Overseeing the implementation of the Group’s rigorous international standards for financial crime compliance, internal controls, and overall risk governance within Nepal. The provided information indicates that Ms. Khurana previously held key oversight roles, having served as the Chairperson of the Bank’s Audit Committee and a member of the Risk Committee, underscoring the gravity and importance of her position in maintaining the bank’s robust internal architecture.
Cross-Border Management: Facilitating effective communication and operational synergy between the Kathmandu-based operation and the global headquarters in the United Kingdom.
While the bank has approved the resignation, the effective date of October 31, 2025, allows the institution a defined period for a seamless handover and the appointment of a new representative. Such changes in key leadership roles are a natural part of international corporate governance, often occurring when the director is appointed to a new, demanding role within the global Group or moves to a different geographical location.
Standard Chartered’s Governance Structure in Nepal
Standard Chartered Bank Nepal operates under the rigorous governance framework of both the Nepal Rastra Bank (NRB) and the Standard Chartered Group’s international standards. The Board of Directors, which is currently led by Chairman Venugopal Ranganathan (also a promoter nominee), is responsible for setting the bank’s strategic direction and ensuring accountability.
The departure of a director requires the global promoter, Standard Chartered, to nominate a qualified successor. The nominated candidate must then undergo approval from the bank’s local Board of Directors and, most importantly, obtain the final regulatory approval from the Nepal Rastra Bank. This process is designed to ensure that the new director not only possesses the necessary international experience but also meets all local regulatory criteria for competence and financial probity. The timely completion of this succession process is vital for maintaining the continuity of the bank’s governance and its operational stability in the highly regulated commercial banking environment.
Looking Ahead to Board Continuity
The official approval of Ankur Khurana’s resignation signals that the bank’s board is proactively managing this leadership transition. The bank’s ability to efficiently manage such internal changes is crucial for its long-term stability and is closely monitored by the financial market and regulatory bodies. The new nominee will be tasked with continuing the bank’s commitment to high international standards of compliance, risk management, and the execution of its strategic growth objectives in Nepal’s rapidly evolving financial landscape. The successful conclusion of this appointment will reaffirm the Standard Chartered Group’s continued dedication and strategic interest in its Nepali franchise, which remains one of the largest and most well-capitalized international banking operations in the country.
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