BIZ BRIEFS
KATHMANDU, April 27
ICRA Nepal has upgraded the issuer rating of NMB Bank Ltd from [ICRANP-IR] A- to [ICRANP- IR] A indicating an adequate degree of safety regarding the timely servicing of financial obligations. Such issuers carry low credit risk. ICRA Nepal Ltd, the first credit rating agency of Nepal and licensed by the Securities Board of Nepal (SEBON), is a subsidiary of ICRA Ltd (ICRA) of India.
![The issuance of [ICRANP-IR] AA rating will enable the Nepal Electricity Authority to borrow directly on its institutional guarantee, according to NEA’s Executive Director Kulman Ghising. File Photo: THT](https://cdn4.premiumread.com/?url=https://thehimalayantimes.com/thehimalayantimes/uploads/images/2022/02/28/12919.jpg&w=200&q=100&f=jpg)
The rating upgradation factors in the bank's ability to successfully consolidate its business following a series of mergers/acquisitions, as reflected in the recent improvement in asset quality and delinquencies, as per a media release. The bank continues to maintain a comfortable capitalisation and liquidity position that makes it better positioned to handle credit/ liquidity shocks. The upgradation has also derived comfort from the bank's adequate track record, good ownership profile, experienced management team, established underwriting and risk management practices.
A version of this article appears in the print on April 28, 2022, of The Himalayan Times.
