Bank AL Habib Limited Maintains AA+ Long-Term Rating Amidst Competitive Landscape

Karachi: Bank AL Habib Limited’s long-term rating has been maintained at AA+ by PACRA, reflecting the bank’s ongoing efforts to enhance its market position despite increasing competition.

According to The Pakistan Credit Rating Agency Limited, the bank’s deposit base grew by 15% to PKR 2,222 billion as of the end of September 2024, driven by a 17% increase in customer deposits. The CASA ratio improved to approximately 75%.

The bank’s gross advances decreased slightly to PKR 814 billion, with the advance share at 7.0%. Non-performing loans rose by 38% to PKR 35 billion, resulting in an infection ratio increase to 4.29%. Investments grew to PKR 1.81 trillion, though the Advance to Deposit Ratio declined to 37%. The bank reported a Profit After Tax of PKR 33 billion during the first nine months of 2024, supported by markup income and a 33% rise in other income. The Capital Adequacy Ratio improved to 19.63%, bolstered by profitability. The rating depends on maintaining a stable risk profile amidst competition.

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