Gorakh Shumsher Rana has been appointed Chief Executive Officer (CEO) of Standard Chartered Bank Nepal. This is a tradition break as the first time the bank has chosen a Nepali citizen for the position. The bank was established in 1987.
In the past, all CEOs of the bank were foreign nationals. Rana, an MBA graduate from the United States, has been associated with Standard Chartered Bank since its early days. Prior to this appointment, he served as the Deputy CEO of the bank.
Rana’s appointment follows the conclusion of the tenure of former CEO Anirvan Ghosh Dastidar. He has been with Standard Chartered since 1994, starting his journey in retail and private banking. By 1996, he advanced to lead the Corporate and Institutional Banking department. Over the years, he has held various roles, including Relationship Manager, Senior Credit Manager, and Head of Client Coverage.
Before becoming Deputy CEO in 2022, Rana was the Head of Global Banking and Commercial Banking. In this capacity, he managed corporate, commercial, and institutional banking client coverage in Nepal.
Standard Chartered Bank Nepal is recognized as the commercial bank with the highest share price in the market. It boasts a paid-up capital of Rs. 9.42 billion. For the fiscal year 2080/81, the bank announced a 6.5% bonus share distribution to its shareholders, along with a 19% cash dividend from the previous year’s profits.
As CEO, Rana aims to drive innovation, improve client services, and strengthen the bank’s market position. His extensive experience in banking will help him lead the institution into a new era of growth.
Moreover, Rana is known for his royal family connection. He was married to Shruti Rajyalaxmi Shah, the daughter of the late King Birendra Shah. His wife tragically lost her life alongside King Birendra and other royal family members in the 2001 royal massacre.
