StanChart Bank Nepal reaffirmed with AAA Rating (2024)

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StanChart Bank Nepal reaffirmed with AAA Rating? ›

KATHMANDU, MARCH 27: ICRA Nepal has maintained the issuer rating of [ICRANP-IR] AAA for Standard Chartered Bank Nepal Limited (SCBNL) for the fifth consecutive year. This rating indicates that the bank has the highest degree of safety when it comes to servicing financial obligations, and has the lowest credit risk.

ICRA Nepal has reaffirmed the issuer rating of AAA 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.

Rating action

ICRA Nepal has reaffirmed the issuer rating of [ICRANP-IR] A (pronounced ICRA NP issuer rating A) to Nepal Bank Limited (NBL), indicating adequate degree of safety regarding the timely servicing of the financial obligations. Such issuers carry low credit risk.

The average salary for Junior Officer is NPR 61,667 per month in the Nepal. The average additional cash compensation for a Junior Officer in the Nepal is NPR 16,667, with a range from NPR 12,500 - NPR 45,000.

Top 10 Commercial Banks In Nepal ( In terms of Deposits)

Global IME Bank (GBIME)has the highest deposits from customers among the commercial banks of Nepal. GBIME has deposits of Rs 426.33 Arba until Ashad's end, 2080 BS. Nabil Bank (NABIL) is second with Rs 396.84 Arba in deposits.

Standard Chartered Bank Nepal Limited has been in operation in Nepal since 1987 when it was initially registered as a joint-venture operation. Today, the Bank is an integral part of Standard Chartered Group having an ownership of 70.21% in the company with 29.79% shares owned by the Nepalese public.

'aaa' ratings denote the best prospects for ongoing viability and lowest expectation of failure risk.

Why does Nepal not have credit rating? ›

Earlier, the process was halted as economic indicators were not positive due to the Covid pandemic. International investors who attended the investment summit three years ago had suggested doing the rating.

ICRA Nepal's credit ratings are symbolic representations of its current opinion on the relative credit risks associated with the rated debt obligations/issues. These ratings are assigned on a Nepalese (that is, national or local) credit rating scale for Rupee (local currency) denominated debt obligations.

The highest-paying job at Standard Chartered is a Executive Director with a salary of ₹93.4 Lakhs per year. The top 10% of employees earn more than ₹28.04 lakhs per year. The top 1% earn more than a whopping ₹53.65 lakhs per year.

NMB Bank paid Rs 23.4m annual pay package to its CEO Sunil KC in FY 2021/22. Of the total remuneration, Rs 8.5m was allowance and Rs 5m was bonus. Nepal Investment Bank Limited (NIBL) paid an annual salary package of Rs 30.6m to its CEO Jyoti Prakash Pandey in FY 2021/22.

An early career Chartered Accountant with 1-4 years of experience earns an average total compensation (includes tips, bonus, and overtime pay) of रू982,634 based on 26 salaries.

By any measure, Standard Chartered Bank is one of the best commercial lenders in Nepal and the clear leader among the foreign banks. It has been in Nepal since 1987, when it registered as a joint venture.

JPMorgan Chase, the financial institution that owns Chase Bank, topped our experts' list because it's designated as the world's most systemically important bank on the 2023 G-SIB list. This designation means it has the highest loss absorbency requirements of any bank, providing more protection against financial crisis.