SCBNL recognised with AAA Rating for 4th time

KATHMANDU, MARCH 7: ICRA Nepal has awarded the coveted  [ICRANP-IR] AAA rating 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," states a press release issued by the bank. 

 The rating reaffirmation factors in the bank’s strong capitalisation profile with an 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.”

“The reaffirmation of AAA rating for four years in a row is a strong validation of our commitment towards our clients and all our stakeholders in Nepal. We thank everyone for making this possible,” CEO of Standard Chartered Nepal, Anirvan Ghosh Dastidar, was quoted by the release as saying.