Sunrise Bank Obtains 'A' Issuer Rating

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Sunrise Bank Obtains 'A' Issuer Rating

May 27: Sunrise Bank has obtained 'A' Issuer Rating from Care Ratings Nepal Limited. Institutions with this rating are considered to offer adequate degree of safety regarding timely servicing of financial obligations and carry lower credit risk, the bank said in a statement. CEO of Care Ratings Nepal Limited, Sajan Goyal, handed over the rating certificate to Ratna Raj Bajracharya, CEO of Sunrise Bank, amid a recent function.

Sunrise Bank said it has been adopting prudent risk mitigation techniques keeping in mind the safety of its depositors, stakeholders and investors.

"This rating further strengthens the stance of Sunrise Bank. The bank is committed to strengthen its financial ratios in the days ahead," the statement said.

The bank recently introduced “Health Insurance Facility" scheme to all of its saving deposit account holders in addition to "Accidental Insurance". Under this scheme, insurance coverage in saving accounts is provided with an aim to guarantee compensation for hospitalization expenses.

According to the bank, the health insurance facility shall be up to 25 percent of the average deposit during last 365 days of any account holder or the bill amount whichever is lower, with a maximum limitation of Rs 100,000. Similarly, the bank has made arrangement with more than 60 private hospitals all over Nepal for providing 5 to 20 percent discount to its customers.

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