Thursday 29th February 2024

Standard Chartered Bank Nepal reaffirmed with AAA rating

Published on : 27 January, 2022 12:07 pm

ICRA Nepal has reaffirmed the issuer rating of [ICRANP-IR] AAA to Standard Chartered Bank Nepal Limited
(SCBNL). The rating is considered to have the highest degree of safety regarding the timely servicing of
financial obligations. Such issuers carry the lowest credit risk. This is the third year in a row that the Bank
has received the coveted rating.

In the rationale statement, ICRA Nepal states “The rating reaffirmation factors in the bank’s strong financial profile as reflected in robust capitalisation and a healthy asset quality despite the impact of Covid-19 pandemic. 

The bank reported a capital to risk weighted assets ratio (CRAR) of 16.09 percent and tier-I of 14.46 percent as of mid-October 2021, remaining much comfortable against the minimum regulatory requirement of 11 percent and 7 percent respectively. 

The rating also factors in SCBNL’s competitive positioning underpinned by its global brand reputation and competitive cost of funds, along with improved granularity of deposits.”

CEO of Standard Chartered Nepal, Anirvan Ghosh Dastidar stated that the reaffirmation of AAA rating for three
years in a row is strong validation of the commitment of the bank towards its’ clients and all its’ stakeholders in Nepal
& thanked everyone for making this possible.

Tags: , , , ,

Comment here !