KARACHI: JCR-VIS Credit Rating Company Limited has reaffirmed the entity ratings of Meezan Bank Limited (MBL) at "AA/A-1+" (Double A/A-One Plus).
Outlook on the assigned ratings is "Stable". The previous rating action was announced on June 29, 2015, a news release said here on Monday.
Ratings of MBL reflect its healthy customer franchise which has allowed the bank to build a sizeable, cost effective and granular deposit base. MBL has pursued an aggressive branch expansion strategy which has allowed the bank to increase its footprint and market share in banking sector deposits.
Ratings also incorporate strong liquidity profile, improving asset quality indicators and sound governance infrastructure.
The risk profile of loan book remains sound on account of large exposures being taken against top-tier entities, financing portfolio continues to feature concentration. Liquidity profile of the bank is considered strong.
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