The Pakistan Credit Rating Agency (PACRA) has maintained the long-term rating of “AAA” (Triple A) and a short-term rating of “A1+” (A One plus) of the Pakistan Kuwait Investment Company (Pvt) Limited (PKIC). These ratings denote the lowest expectation of credit risk emanating from an exceptionally strong capacity for timely payment of financial commitments.

The ratings reflect the company’s very strong risk absorption capacity emanating from its robust capital structure. This is further supported by the management’s prudent stance towards risk while targeting a modest growth in different areas of business. Although returns on trading in equities continue to dominate the company’s profitability, the contribution of relatively stable interest earnings is improving and the income from investment banking activities has also started.

About the company: PKIC was established in March 1979 as a joint venture between the governments of Pakistan and Kuwait. Currently the shareholding is equally held through the State Bank of Pakistan and the Kuwait Investment Authority (KIA). The primary objective of the organization is to make a tangible contribution to economic development by supporting both industrial and service sectors. The Managing Director, who joined PKIC in January 2005, has over 35 years of diversified national as well as international experience. This includes Chairmanship of NIT and as President and Chief Executive of Zarai Taraqiati Bank.