KATHMANDU

ICRA Nepal has reaffirmed the issuer rating of [ICRANP-IR] AAA to Standard Chartered Bank Nepal Limited (SCBNL) for the fourth consecutive year. 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 fourth 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 capitalisation profile with adequate cushion against the minimum regulatory requirement and its robust asset quality profile with comfortable non-performing loans (NPLs)/delinquencies, despite the sharp build up in asset quality stress across the Nepalese banking industry.

The bank reported a capital to risk weighted assets ratio (CAR) of 14.91% and tier-I of 13.38% as of mid-Jan 2023, remaining well above the minimum regulatory requirement of 11% and 8.5% respectively. The rating also factors in SCBNL’s competitive positioning underpinned by its global brand reputation and competitive cost of funds.”

CEO of Standard Chartered Nepal, Anirvan Ghosh Dastidar said,’The reaffirmation of AAA rating for four 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.’