Standard Chartered Bank (SCB) Nepal Limited has bagged the ‘Bank of the Year 2002’ award given by the London-based Financial Times group’s The Banker on Tuesday.

SCB, Nepal is the first Nepali banking institution to receive the award, which is regarded as one of the coveted international awards in the global banking arena, a press release of the bank said.

The Banker Award is selected from top 2000 global banks ranking, published each July. Banks across the globe are studied to assess whether they meet a minimum benchmark to qualify for consideration.