December 4: Standard Chartered Bank Nepal has said that the bank has been reaffirmed with the issuer rating of AAA by ICRA Nepal, the first credit rating agency of the country.

The rating is considered to have the highest degree of safety regarding the timely servicing of financial obligations, the bank said in a statement. Such issuers carry the lowest credit risk.

According to the bank, this is the second year in a row that the Standard Chartered Nepal has received the coveted rating.

“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 the Covid-19 pandemic,” ICRA Nepal stated.

CEO of Standard Chartered Nepal, Anirvan Ghosh Dastidar said, “The reaffirmation of AAA rating is validation of our commitment towards our clients and all our stakeholders. We thank everyone for making this possible.”