The Pakistan Credit Rating Agency Limited
24-Apr-26
Analyst
Muhammad Umer Munir
umer.munir@pacra.com
+92-42-35869504
www.pacra.com
Applicable Criteria
- Methodology | Rating Modifiers | Apr-25
- Methodology | Debt Instrument Rating | Sep-25
- Methodology | Financial Institution Rating | Oct-25
Related Research
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PACRA Withdraws the Debt Instrument Ratings of Samba Bank Limited | PPTFC
| Issuer | Samba Bank Limited |
| Instrument | TFC-II |
| Amount | PKR 5 mln |
| Issuance Date | 01-Mar-21 |
| Tenor | 10 Years |
| Redemption Date | 02-Mar-26 |
| Outstanding Amount | - |
| Rating Type | Debt Instrument | |
|
Current (24-Apr-26 ) |
Previous (21-Nov-25 ) |
|
| Action | Redeem | Maintain |
| Long Term | - | AA- |
| Short Term | - | - |
| Outlook | Stable | |
| Rating Watch | - | - |
Samba Bank Limited (“SBL” or “the Bank”) had issued an unsecured, subordinated, rated, and DSLR-listed PPTFC Tier-II Term Finance in March 2021, with a total size of PKR 5 billion. The Bank exercised its Call Option on March 1, 2026. Accordingly, the instrument has been fully redeemed. The instrument—carrying a profit rate of 6-Month KIBOR plus 135 basis points per annum and structured with a 10-year tenor, with all periodic profit obligations serviced in accordance with terms. As evidenced by the disclosures submitted to PSX with the Bank’s delisting request, SBL has fully settled the outstanding principal and accrued mark-up through IBFT/RTGS channels, and all regulatory formalities, including reconciliation of books and compliance with CDC’s, Central Depository Company, “Procedures for Revocation of CDS Eligibility of Redeemable Securities,” have been duly completed.
With the instrument fully redeemed, PACRA has accordingly withdrawn the rating of Samba Bank Limited’s PPTFC.
About
the Entity
Samba Bank Limited is primarily owned by Saudi National Bank of Saudi Arabia, which holds an 84.51% stake. The Bank's CEO Mr. Ahmed Tariq Azam has resigned on 27th Apr'2025. Mr. Rashid Jahangir has been appointed as President and CEO of the Bank with effect from 18 Feb 2026.