AsiaNet-Pakistan Premier Editorial Content and Press Release Distribution Service
Lahore, June 29, 2012 (PPI-OT): The Pakistan Credit Rating Agency (PACRA) has maintained long term and short term entity ratings of MCB Bank Limited at “AA+” (Double A Plus) and “A1+” (A One Plus), respectively. 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 MCB’s strong market position, characterized by its established brand and extensive branch network equipped with requisite technology infrastructure.
This benefits the bank in maintaining – indeed growing – a low cost deposit base as compared to its peers. The ratings factor in the bank’s strong financial profile mainly emanating from its sound liquidity, solid capitalization, and robust profitability.
The bank, while following a cautious lending strategy, has maintained good asset quality. The ratings are dependent on the bank’s ability to uphold its existing positioning in the banking sector.
At the same time, maintaining asset quality while reviewing its risk management systems on a continuous basis in line with changing market conditions would remain important to cater future challenges.
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