PACRA MAINTAINS THE RATINGS OF

BANK AL HABIB LIMITED

 

Lahore: July 04, 2002

The Pakistan Credit Rating Agency (PACRA) has maintained the long-term rating of 'AA' (Double A) and a short-term rating of 'A1+' (A One plus) for Bank AL Habib Limited. These ratings denote a very low expectation of credit risk emanating from the very strong capacity for timely payment of financial commitments. The ratings are applicable to the senior unsecured creditors of the bank.

While maintaining the ratings, PACRA has taken cognizance of the inherent strength of the bank as reflected both in terms of its performance and asset quality. While the bank is well positioned to maintain the trends of the past, its operations, like those of all other financial sector entities operating in Pakistan, will remain constrained by the current difficult and somewhat uncertain operating environment.