The New Nation - Internet Edition

Credit Rating Information & Services Ltd. (CRISL), the oldest and largest rating agency in the country has awarded triple 'A' to Standard Chartered Bank, for long term debt instruments and ST-1 for short term debt instruments, says a press release.

The triple 'A' rating represents both the highest rating awarded by CRISL to any bank or financial instrument in Bangladesh and SCB is, till date, the only bank to have received such rating.

Standard Chartered Bank, Bangladesh is a branch of Standard Chartered PLC, a FTSE 20 company registered in London and focused on Asia, Africa and the Middle East.

Currently the largest foreign bank in Bangladesh, Standard Chartered Bank originally established it's first branch in the country in Chittagong in 1948. Standard Chartered also traces its roots in Bangladesh back to 1905 through its acquisition of

ANZ Grindlays Bank. SCB is one of the top tax payers in the country and leads the local banking industry with pre-tax profits of Tk 552 crore and a capital base of Tk 1,041 crore as at 31st Dec 2006.