Pakistan Credit Rating Agency Limited Maintains Entity Ratings Of Habib Metropolitan Bank Limited
Lahore, June 29, 2012 (PPI-OT): PACRA has maintained the long-term and short-term entity ratings of Habib Metropolitan Bank Limited at AA+ (Double A Plus) and A1+ (A One Plus), respectively. The ratings denote a very low expectation of credit risk emanating from a very strong capacity for timely payment of financial commitments.
The ratings incorporate Habib Metro’s association with a diversified and financially strong international bank – Habib Bank AG Zurich (HBZ). The ratings recognize the bank’s healthy financial profile emanating from a strong equity base, that is supplemented by an adequate flow of profitability. The bank continues to enjoy leading position in its specific niche – self liquidating trade finance – despite increasing competition and tough operating environment.
HabibMetro characterizes concentration in its deposit as well as loan books. Nevertheless, it is reducing and the management’s strategy takes cognizance of this. HabibMetro’s asset quality has further declined unlike most similar rated banks. However, corrective measures are in place and timely remedial is expected.
For more information, contact:
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