Lahore, June 19, 2014 (PPI-OT): The Pakistan Credit Rating Agency (PACRA) has maintained the long-term and short-term entity ratings of Standard Chartered Bank (Pakistan) Limited (SCBPL) at ‘AAA’ (Triple A), and ‘A1+’ (A One Plus). Meanwhile, the rating of the bank’s listed, subordinated TFC has been maintained at ‘AAA’ (Triple A).
These ratings denote the lowest expectation of credit risk emanating from an exceptionally strong capacity for timely payment of financial commitments.
The ratings reflect SCBPL’s association with a financially sound and reputed international bank – Standard Chartered PLC (SC PLC). This is supplemented by SCBPL’s strategic and operational integration into the parent as the bank continues to benefit from the technical resources and cumulative expertise developed at the group level.
The ratings incorporate the bank’s edge in niche market (MNCs and established domestic corporates through an elaborate product suite), wherein, its international franchise is advantageous. At the same time, the rating factors in sound management quality, healthy spreads, and ample liquidity of the bank.
With focused attention, SCPBL is reaping benefits of NPL recovery though sizeable room is still available. SCBPL’s pre-dominantly low cost deposit base, while distinguishing it in peer universe, facilitates core operating activities.
The ratings remain dependent on the bank’s ability to keep identifying profitable segments, while remaining abreast to changing domestic operating environment. Meanwhile, maintaining spreads whilst not compromising on the asset quality would remain a challenge for the bank.
For more information, contact:
The Pakistan Credit Rating Agency Limited (PACRA)
Awami Complex, FB1, Usman Block New Garden Town,
Lahore – Pakistan
Tel: +9242 586 9504 -6
Fax: +9242 583 0425
The post Pakistan Credit Rating Agency maintains entity ratings of Standard Chartered Bank (Pakistan) Limited appeared first on AsiaNet-Pakistan.