ICRA NEPAL assigns hiqhest ever rating " [ICRANP-IR] AA" to Nepal SBI Bank

ICRA Nepal Limited has assigned issuer rating of "[CRANP-IR] AA" (pronounced ICRA NP lssuer Rating Double A) to Nepal SBI Bank Limited on 1Sth July 2016. '[ICRANP-IR] AA' rating is considered as high credit quality rating assigned by ICRA Nepal and the rated entity carries low credit risk. ICRA Nepal has also reaffirmed the rating of [ICRAP] LAA (pronounced ICRA NP Double A) to the subordinated bonds/debenture of NPR 200 Million of Nepal SBI Bank Ltd. Issued in the year 2014. Instruments with this rating are considered to have high degree of safety regarding timely servicing of financial obligations and such instruments carry very low credit risk. Both the above ratings are the highest ratings ever assigned by ICRA Nepal to Nepalese listed companies. As per ICRA Nepal, the rating assignment/reaffirmation factors in the bank's strong promoter profile, existence of Technical Service Agreement (TSA) with State Bank of lndia, established track record (operating since 1993) and adequate franchise leading to good market positioning in Nepal. ICRA Nepal's Rating Certificate further states that the rating was assigned to the Bank by taking into consideration bank's experienced senior management, improved deposits profile, strong asset quality, adequate capltalization levels, moderate portfolio growth and adequate earnings profile. Mr. Deepak Raj Kafle, Managing Director and CEO of ICRA Nepal Limited handed over Rating Certificate to [tIr. Anukool Bhatnagar, MD & CEO of Nepal SBI Bank Ltd. amidst a ceremony held today at ICRA Nepal's Office. Nepal SBI Bank Ltd. has 73 offices (including 3 Regional Offices once each in Biratnagar,Nepalgunj and Kathmandu), 86 ATItIs with E-corner, Ivlobile Banking, INB Utilities. The Bank is technology driven financial services provider having presence in 13 zones out of 14 zones of Nepal, with a client base of over 6.25 lacs and complete range of financialsolutions.