Summit Bank Harmonizes Rating of Tier-2 Term Finance Certificate to ‘B’

Karachi, Summit Bank Limited, a prominent banking institution, has announced the harmonization of the rating for its issued Tier-2 Term Finance Certificate (TFC). The decision aligns with the provisions set forth in Section 96 and 131 of the Securities Act, 2015, and clause 5.6.1(a) of the Rule Book of the Pakistan Stock Exchange.

Previously rated as ‘D’ (Default), the Tier-2 Term Finance Certificate of Summit Bank Limited has now been harmonized to ‘B’ (B single). This harmonization reflects the bank’s commitment to maintaining transparency and addressing any concerns regarding its financial instruments.

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