The Pakistan Credit Rating Agency (Pacra) has maintained the long-term and short-term ratings of Pak-Libya Holding Co at 'AA-' (Double A Minus) and 'A1 +' (A One Plus), respectively, with positive outlook.
The ratings denote a very low expectation of credit risk emanating from a very strong capacity timely payment of financial commitments.
Pak-Libya is one of the leading financial institutions of Pakistan engaged in a variety of financial services and catering the need of industrial, business and consumer sector. Its investment and financing operations cover both fund and non-fund based activities, which includes investment banking operations, consumer banking, equity participation, lease financing, capital market operations, treasury operation, issuance of guarantees, underwriting of public issues, and corporate finance advisory services.
As per audited accounts for the year ended December 31 2006 Pak-Libya earned a net profit of Rs 294.776 million, having capital base of Rs 4,058.071 million. The company had well diversified assets portfolio of Rs 12,809.903 million as on December 31 2006.
Pak-Libya has launched several initiatives to enhance the return on financing and increase in fee based income. The profitability is likely to increase in the future.-PR
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