CRESBANK'S RATINGS WITHDRAWN

 

Lahore: July 04, 2003

Following the approval of the State Bank of Pakistan of the scheme of amalgamation resulting in merger of Crescent Investment Bank Limited (CresBank) with Pakistan branches of Mashreq Bank with effect from July 9, 2003, PACRA's long-term and short-term ratings for CresBank "A-" (A minus) and "A1" (single A one), respectively, stand withdrawn.