Pacra has maintained the long-term and short-term entity ratings of "AA" (Double A) and "A1+" (A one plus), respectively. Pacra has also maintained the rating of subordinated TFC (II) of PKR 3,000 million, issued by ABL, at "AA-" (Double A minus). These ratings denote very low expectation of credit risk emanating from a very strong capacity for timely payment of financial commitments. The outlook on these ratings remains 'positive'.
The ratings reflect ABL's robust performance emanating from increasing asset base and sound asset quality. ABL continues to leverage its extensive network for mobilising low cost deposits, while simultaneously expanding its advances portfolio. The bank remains focused on strengthening its infrastructure and control environment - pre-requisites to withstand increasingly tough and competitive operating environment in the country.
The positive outlook on ratings recognise ABL's improving profile in the peer universe; wherein deepening of client relationships, further dilution of credit and deposit concentration, and full scale benefits of advanced technology platform would be key essentials.-PR
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