The Standard Chartered Bank Nepal has been awarded the Bank of the Year 2002 Award, making it the first recipient of the prize in Nepal. The prize is awarded by The Banker, a source of reliable global financial intelligence and coverage on the industry, that is a part of The Financial Times newspaper group. Banks that meet the minimum benchmark to qualify for consideration for the prize are invited to apply, and are then judged on the basis of their safety parameters, use of technology to advance their market position, and banking structure and strategy, says an SCBN release.