Kathmandu. CARE Ratings Nepal Limited has upgraded the Issuer Rating (CARE-NP BB+ (Is)’ to Kamana Sewa Bikas Bank Limited and assigned a new Issuer Rating ‘CARE-NP BBB- (Is)’.
According to the definition of a rating agency, ‘CARE-NP BBB-(IS)’ is an institution that provides a moderate level of security and bears a moderate level of credit risk in relation to timely payment of financial obligations.
The rating agency based on the capital consolidation of the bank, improvement in the quality management of loans, experienced board and management team, improvement in profit, business growth, improvement in deposit structure, strong liquidity, business growth and market share.
The full definition of the rating provided to the bank is available on the CARE Ratings Nepal website www.careratingsnepal.com}. The rating can also be viewed from Kamana_Sewa_Bikas_Bank_Limited_-_Issuer_Rating_Revised.pdf}.
This rating upgrade further reinforces the confidence of depositors, borrowers, shareholders, investors, regulatory bodies and all stakeholders in the bank and reaffirms the bank’s commitment to financial soundness and good corporate governance. In addition, the bank believes that it will further help the bank to mobilize resources at competitive cost, expand institutional deposits and business partnerships.
The bank has been focusing on long-term institutional consolidation and expansion through safe, responsible, technology-friendly and sustainable banking practices in line with its “Future Ready” approach.
