Pakistan Credit Rating Agency Maintains Ratings of Bank Alfalah Limited
Lahore: The Pakistan Credit Rating Agency (PACRA) has maintained the long-term and short-term entity ratings of Bank Alfalah Limited (BAL) at “AA” (Double A) and “A1+” (A one plus) respectively. The ratings of three unsecured subordinated TFCs issues of PKR 1,250mln, PKR 1,325mln and PKR 5,000mln have been maintained at “AA-” (Double A minus). These ratings denote a very low expectation of credit risk emanating from a very strong capacity for timely payment of financial commitments.
The ratings reflect BAL’s sustained market positioning despite increasingly tough operating environment in the country. The bank’s asset quality has been impacted, attributable to continuing pressure on the socio-economic landscape, though infection largely remains concentrated in few segments and is aligned with the peer group. Moreover, the bank’s twofold strategy – low-cost deposit mobilization and cautious advances deployment – is expected to yield better profitability. Meanwhile, the ratings recognize the demonstrated support of Abu Dhabi group as a key factor.
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