KATHMANDU, Sept 12: ICRA Nepal, the first credit rating agency in Nepal that follows the 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.
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According to the statement, 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, adequate earnings profile with healthy net interest margins, prudent risk management practices, along with strong promoter group and an experienced board/management profile.
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