ISLAMABAD: JCR-VIS Credit Rating Company Limited has reaffirmed the entity ratings of Zarai Taraqiati Bank Limited as AAA/A-1+ (Triple A/A One Plus), besides the safety of deposits mobilized by the Bank is explicitly guaranteed under the Bank's (Nationalization) Act, 1974.
The assigned rating reflected the systematic importance of Zarai Taraqiati Bank limited (ZTBL) to the Agriculture economy of Pakistan, says a statement issued by the bank here today.
Timely availability of agriculture credit continues to remain an important factor for ZTBL for the growth of agriculture sector.
In contrast with the prior year, share of ZTBL in the overall agriculture financing of the country has trended upwards.
Growth in quality of financing portfolio increase in pricing of loans products and decline in interest expense positively reflected on the earnings profile of the bank.
"Positive momentum in profitability is expected to continue on account of growing advances portfolio, reduced liabilities and the dynamic leadership of its President Syed Talat Mahmood", the statement said.
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