PACRA MAINTAINS THE RATINGS OF

METROPOLITAN BANK LIMITED

 

Lahore: July 10, 2002

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

While assigning the ratings, PACRA has taken cognizance of the Bank's continuing policy of maintaining a low risk profile with steady growth through deposit mobilization and a dynamic as well as efficient fund deployment strategy. The ratings also recognize the management's ongoing process of identifying and benefiting from new non-fund based avenues of income. The considerable improvement in performance manifests the success of these policies. The bank has successfully met the challenges of a difficult operating environment. However, going forward, the continuing recessionary economic conditions could be a constraining factor in the overall progress of the Bank.