Muhammad Noor Ul Haq
PACRA Suspends Entity Ratings of SME Bank Limited
PACRA has suspended the entity ratings of 'CCC/B' (Triple C/B) assigned to SME Bank Limited due to non-availability of approved updated Accounts. No approved financial statements are available after the period ended Sep'2018. Once required information is available. PACRA would update the ratings, after following the due process.
SME Bank Limited, incorporated in October 2001, commenced commercial banking operations in April 2005. It operates a network of 13 branches and is ~94 % owned by Federal Government. Overall control of the bank lies with government nominated seven members Board of Directors and currently four positions are vacant. The CEO Mr. Dilshad Ali Ahmad has more than 3 decade experience in banking and finance.