The Pakistan Credit Rating Agency Limited
Press Release
a

Rating Action
Lahore: (18-June-2005)
    PACRA Maintains The Ratings of Metropolitan Bank Limited (MBL)
 

 
Analyst
Sumaira Fazal
(+92-42-586 9504)
sumaira@pacra.com

 

 

 









 

 

Disclaimer
This press release is transmitted to you for this sole purpose of dissemination through your newspaper/magazine/agency. The press release may be used by you in full or in part without changing the meaning or context thereof but with due credit to PACRA. However, PACRA has the sole right of distribution of its press releases for consideration or otherwise through any media.

  

The Pakistan Credit Rating Agency (PACRA) has maintained both long-term and short-term ratings of Metropolitan 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 MBL's strong competitiveness within its niche market and consistently robust performance. The ratings also take into account the bank's higher capital adequacy ratio than most of its peers, emanating mainly from its Tier 1 capital, conservative and prudent approach to business, which is reflected in its sustained virtually infection free loan portfolio. At the same time, the ratings factor in the bank's continuous efforts at strengthening risk management systems. The bank continues to distinguish itself in terms of product innovation as well as technological upgradation. This is consistent with the vision of management to retain leadership in service quality and operating efficiency.

About the bank: MBL commenced its operations in 1992. The Chief Executive of the bank is a former Governor of the State Bank and also a former president of Habib Bank Limited, one of the largest banks in the country. MBL, with focus on corporate banking, is also strengthening its retail banking. In order to augment revenues, the bank is seeking diversification in business volumes and income streams. While some progress has already been made in this respect, further developments are under management's consideration.

 
 
The primary function of PACRA is to evaluate the capacity and willingness of an entity to honor its obligations. Our ratings reflect an independent, professional and impartial assessment of the risks associated with a particular instrument or an entity.

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