Pakistan Credit Rating Agency maintains Ratings of Allied Bank Limited
Lahore: Pakistan Credit Rating Agency Limited (PACRA) has maintained the long-term and short-term entity ratings of “AA” (Double A) and “A1+” (A one plus), respectively. PACRA has also maintained the rating of subordinated TFC(II) of PKR 3,000mln, issued by ABL, at “AA-” (Double A minus). These ratings denote very low expectation of credit risk emanating from a very strong capacity for timely payment of financial commitments. The outlook on these ratings remains ‘positive’.
The ratings reflect ABL’s robust performance emanating from increasing asset base and sound asset quality. ABL continues to leverage its extensive network for mobilizing low cost deposits, while simultaneously expanding its advances portfolio. The bank remains focused on strengthening its infrastructure and control environment – pre-requisites to withstand increasingly tough and competitive operating environment in the country.
The positive outlook on ratings recognize ABL’s improving profile in the peer universe; wherein deepening of client relationships, further dilution of credit and deposit concentration, and full scale benefits of advanced technology platform would be key essentials.
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