Kathmandu. Standard Chartered Bank Nepal Limited, the only international bank in Nepal, has been reconfirmed the ‘[ICRANP-IR] AAA’ rating for the sixth time by the credit rating organization, ICRA Nepal. This rating is an indicator of extremely high security for timely completion of financial obligations, in which investor risk is considered minimal.
According to the analysis released by ICRA Nepal, the bank’s capital position, risk management capability and strength in asset quality are the main reasons for reaffirming the writing. As of mid-April of the current year, the bank’s capital adequacy ratio (CRAR) stood at 17.44 per cent and tier-1 capital at 15.15 per cent, higher than the regulatory body Nepal Rastra Bank’s minimum standard of 11 per cent and 8.5 per cent.
The bank’s non-performing loan (NPL) stands at just 1.44 per cent, much lower than the ‘A’ category bank average of 5.05 per cent. Such signals show a strengthening of the bank’s lending system, risk control practices and ability to offer competitive interest rates.
Gorakh Rana, CEO and Head of Coverage of the Bank, said, “Getting an AAA rating for the sixth time is a reflection of our continued commitment and credibility to our service. The contribution of customers, investors and our dedicated staff is invaluable. ‘
Standard Chartered Bank nepal owns about 70 percent of the ownership of Standard Chartered Group. The bank is listed on the Nepal Stock Exchange and is currently established as the lowest cost deposit collection institution in the country.
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