Standard Chartered Bank reaffirmed with AAA rating 2nd year in a row
KATHMANDU: Investment Information and Credit Rating Agency (ICRA) Nepal has reaffirmed the issuer rating of [ICRANP-IR] AAA to Standard Chartered Bank Nepal Limited (SCBNL), second year in a row.
ICRA Nepal Limited, a subsidiary of ICRA Limited (ICRA) of India, is the first credit rating agency of Nepal, licensed by the Securities Board of Nepal (SEBON) on October 3, 2012.
The rating projects the highest degree of safety regarding timely servicing of financial obligations showing that the issuer carries the lowest credit risk.
In the press release issued on Wednesday, December 2, 2020, CEO of Standard Chartered Nepal, Anirvan Ghosh Dastidar said, “The reaffirmation of AAA rating is a validation of our commitment towards our clients and all our stakeholders” thanking all concerned.
Likewise, ICRA Nepal in its statement shared, “The rating reaffirmation continues to derive comfort from the bank’s established track record (operating since 1987) and robust risk management and underwriting practices, which are reflected in its ability to maintain a strong asset quality in recent quarters despite the impact of Covid-19 pandemic.”