January 31: 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 third year in a row that the Standard Chartered Nepal has received the coveted rating.

"The rating reaffirmation factors in the bank's strong financial profile as reflected in robust capitalisation and a healthy asset quality despite the impact of COVID-19. The bank reported a capital to risk weighted assets ratio of 16.09 per cent and tier-I of 14.46 per cent as of mid-October 2021, remaining much comfortable against minimum regulatory requirement of 11 per cent and seven per cent, respectively,” ICRA Nepal said in a statement.