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KARACHI : The Pakistan Credit Rating Agency (Pacra) has maintained the long-term and short-term entity ratings of Bank Alfalah Limited (BAL) at AA (Double A) and A1+ (A one plus) respectively. These ratings denote a very low expectation of credit risk emanating from a very strong capacity for timely payment of financial commitments.

The ratings of three unsecured subordinated TFCs issues of rupees 1,250 million, rupees 1,325 million and rupees 5,000 million have been maintained at AA- (Double A minus). These ratings denote a very low expectation of credit risk emanating from a very strong capacity for timely payment of financial commitments.The ratings reflect BAL s demonstrated ability to sustain pressure on its market positioning in the wake of increasingly competitive landscape of the banking industry. The bank s asset quality, due to depressed socio-economic environment, has suffered deterioration, though infection largely remains concentrated in few segments and is aligned to the peer group. The bank s performance is expected to benefit from its expanding franchise enabling effective advances deployment and deposit mobilisation. Meanwhile, the ratings recognise the continuing support of Abu Dhabi group as a key factor.-PR

Courtesy: Business Recorder