ICRA Nepal rates commercial Banks & Merchant Banker

ICRA Nepal has issued rating to various commercial banks and Merchant banks. The commercial banks and Merchant Bankers with their respective ratings are as follows:

NIC Asia Bank Limited

ICRA Nepal has rating outstanding of [ICRANP] LA-@ (pronounced ICRA NP L A minus, on watch with Negative Implications) on NPR 500 million subordinated debt of NIC Asia Bank Limited (NIC Asia). Instruments with [ICRANP] LA-rating are considered to have adequate degree of safety regarding timely servicing of financial obligations. Nepal SBI Bank Limited ICRA Nepal has rating outstanding of [ICRANP] LAA@ (pronounced ICRA NP L Double A, on watch with Negative Implications) on NPR 200 million subordinated bonds of Nepal SBI Bank Limited (NSBL). Instruments with of [ICRANP] LAA rating are considered to have high degree of safety regarding timely servicing of financial obligations. Such instruments carry very low credit risk.

Siddhartha Bank Limited

ICRA Nepal has an issuer rating of [ICRANP-IR] BBB@ (pronounced ICRA NP Issuer Rating triple B, on watch with Negative Implications) outstanding on Siddhartha Bank Limited (SBL).

Instruments with [ICRANP-IR] BBB rating are considered as moderate-credit-quality rating assigned by ICRA Nepal. The rated entity carries higher than average credit risk.

Citizens Bank International Limited

ICRA Nepal has rating outstanding of [ICRANP] LBBB@ (pronounced ICRA NP L triple B, on watch with Negative Implications) on NPR 500 million subordinated debt of Citizens Bank International Limited (CIBL).

Instruments with [ICRANP] LBBB rating are considered to have moderate degree of safety regarding timely servicing of financial obligations.

Laxmi Bank Limited

ICRA Nepal has an issuer rating of [ICRANP-IR] BBB@ (pronounced ICRA NP Issuer Rating triple B, on watch with Negative Implications) outstanding on Laxmi Bank Limited (LBL).

Instruments with [ICRANP-IR] BBB rating are considered as moderate-credit-quality rating assigned by ICRA Nepal. The rated entity carries higher than average credit risk.

NMB Bank Limited

ICRA Nepal has an issuer rating of [ICRANP-IR] BBB@ (pronounced ICRA NP Issuer Rating triple B, on watch with Negative Implications) outstanding on NMB Bank Limited (NMB).

Instruments with [ICRANP-IR] BBB rating are considered as moderate-credit-quality rating assigned by ICRA Nepal.

These ratings were put on watch in April 2015 after the earthquake. ICRA Nepal has been reviewing the impact of developments on the credit profile.

Similarly ICRA Nepal has an “[ICRANP] AMC Quality 3(AMC3)”(pronounced ICRA NP Asset Management Company Quality Three) fund management quality rating (FMQR) outstanding to NIBL Capital Markets Limited, Laxmi Capital Markets Limited, Siddhartha Capital Limited and NMB Capital Limited.