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Pakistan Credit Rating Agency maintains Ratings of Tameer Microfinance Bank Limited

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by March 22, 2013 General

Lahore, March 22, 2013 (PPI-OT): The Pakistan Credit Rating Agency (PACRA) has maintained the long-term and short-term entity ratings of Tameer Microfinance Bank Limited (TMBL) at “A” (Single A) and “A1″ (A One), respectively. These ratings denote a low expectation of credit risk emanating from a strong capacity for timely payment of financial commitments.

The ratings reflect TMBL’s association with a well reputed and financially sound global telecom group – Telenor. The ratings capture TMBL’s high quality asset base, majority secured by liquid collateral. This is supplemented by the bank’s strong capitalization level which lends it cushion to absorb any unforeseen losses.

TMBL’s branchless banking operations have achieved sizeable growth in terms of market penetration and branding. However, profitability is yet to accrue on a sustainable basis in branchless banking business. With the management’s strategy embarked upon strengthening its retail deposits, the bank is expected to add diversity to its funding base, in turn better risk profile, to register balanced growth in advances. TMBL’s lending focus towards emergency loans, which, though secured against gold, exposes it to concentration risk.

For more information, contact:
Hammad Rashid
Analyst
The Pakistan Credit Rating Agency Limited (PACRA)
Awami Complex, FB1, Usman Block New Garden Town,
Lahore – Pakistan
Tel: +9242 586 9504 -6
Fax: +9242 583 0425
Email: hammad.rashid@pacra.com
Web: www.pacra.com

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