ICRA Nepal upgrades rating of Global IME Bank « Khabarhub
Monday, June 24th, 2024

ICRA Nepal upgrades rating of Global IME Bank

09 September 2021  

Time taken to read : 2 Minute

  • A
  • A
  • A

KATHMANDU: ICRA Nepal, the first credit rating agency in Nepal which follows world-renowned Moody’s standard, has upgraded the issuer rating of Global IME Bank to [ICRANP-IR] A from [ICRANP-IR] A- and its existing subordinated debentures to [ICRANP] LA from [ICRANP] LA-.

The ratings indicate an adequate degree of safety regarding the timely servicing of financial obligations and the instruments issued by the bank carry low credit risk.

For the rating up-gradation, ICRA Nepal has taken into consideration factors like the bank’s comfortable capitalization profile with adequate cushions, relatively granular credit portfolio with lower vulnerability, wide branch network, adequate earnings profile with healthy net interest margins, prudent risk management practices, along with strong promoter group and an experienced board/management profile.

The bank is currently operating 280 branches, 47 extensions, and revenue collection counters, and 257 Branchless Banking facilities spread across the country as well as 3 foreign representative offices, serving over 2.33 million customers.

The bank also operates 250 ATMs throughout the country strategically placed for the convenience of its customers.

The Bank has an important contribution to bringing in remittance from countries like the USA, UK, Canada, Australia, Malaysia, South Korea, Japan, Saudi Arabia, Qatar, UAE, Bahrain, Kuwait, India, Jordan, Hong Kong, etc., which plays a crucial role in the economic development of the country.

Publish Date : 09 September 2021 13:49 PM

DIG Pokharel recommended for promotion to AIG

KATHMANDU: The Ministry of Home Affairs has recommended Deputy Inspector

Netanyahu says ‘intense’ fighting in Gaza will end soon

TEL AVIV: Israeli Prime Minister Benjamin Netanyahu said Sunday that

Secured Transactions Bill to be tabled in HoR today

KATHMANDU: A meeting of the House of Representatives (HoR) is

Reminiscing last week: Political announcements and arrests

KATHMANDU: Last week saw a series of significant developments across

Weekly Economic Digest: Navigating fiscal challenges

KATHMANDU: During the week of June 16th to 21st, 2024,