Kathmandu- Standard Chartered Bank has again reaffirmed with AAA Rating .
Investment Information and Credit Rating Agency of India Limited (ICRA) Nepal has again given an AAA rating to Standard Chartered Bank Nepal’s ongoing ICRANP-IR. This is the third consecutive time that the bank has received such an AAA rating.
The AAA rating is considered to be the highest secure rating achieved by successful financial institutions for providing timely and appropriate services. In this regard, a statement issued by ICRA Nepal said, “Despite the impact of the Covid-19 epidemic, the bank has been given the highest rating again due to its strong economic profile and healthy asset quality under capitalization.”
As of mid-October last year, the bank’s risk-to-equity ratio (CRAR) was 16.9 percent and Tier-I was 14.46 percent, according to the report. Which seems to be much higher than the minimum regulatory requirements of 11 and 7, respectively.
Anirvan Ghosh Dastidar, CEO of Standard Chartered Nepal, Anirvan Ghosh Dastidar said that, 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.”
‘The reaffirmation of AAA rating for three years in a row is strong validation of our commitment towards our clients and all our stakeholders in Nepal. We thank everyone for making this possible’, he said.
