JCR-VIS assigns single A rating to KMFBL

KARACHI: JCR-VIC Credit Rating Company Limited has assigned preliminary rating of single A to the proposed Tier-II debt instrument of Khushhali Micro Finance Bank Limited (KMBL).

The outlook on the assigned rating is stable. The rating will be finalized on review of signed legal document, said press release on Wednesday.

The rating incorporates strong sponsors profile including one of the top tier commercial banks in the country and majority foreign shareholding.

The rating also takes into account the vast experience of the bank in the micro finance sector and its leading position in the micro finance industry in terms of total gross loan portfolio deposits and asset base.