Standard Chartered Bank Nepal reaffirmed with AAA ratingThis is the third year in a row that the bank has received the coveted rating.
ICRA Nepal has reaffirmed the issuer rating of 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.”