• BIZ BRIEFS
KATHMANDU: ICRA Nepal has reaffirmed the issuer rating of [ICRANP- IR] AAA to Standard Chartered Bank Nepal Ltd (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.
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 per cent and tier-I of 13.38 per cent as of mid-January, remaining well above the minimum regulatory requirement of 11 per cent and 8.5 per cent, respectively.
The rating also factors in SCBNL's competitive positioning underpinned by its global brand reputation and competitive cost of funds."
A version of this article appears in the print on March 8, 2023, of The Himalayan Times.
