Kathmandu, Sept 9
ICRA Nepal, credit rating agency in
Nepal, has upgraded the issuer rating of Global IME Bank to A from A-.
Likewise,
GIBL’s existing subordinated debentures are upgraded to LA from 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, said the bank in a statement on Thursday.
According to the bank, for the ratings upgradation,
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, 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
extension and revenue collection counters and 257 branchless banking facilities
across the country as well as 3 foreign representative offices, serving over 23
lakh customers.
The bank also operates 250 ATMs throughout the
country.
GIBL brings in remittance from countries like USA,
UK, Canada, Australia, Malaysia, South Korea, Japan, Saudi Arabia, Qatar, UAE,
Bahrain, Kuwait, India, Jordan and Hong Kong.
Published in The Rising Nepal daily on 10 September 2021.
No comments:
Post a Comment