In a testament to massive Asset size, Deposits book growth, and stable profitability growth, PACRA has upgraded the Long term credit rating of Bank Al-Habib to ‘AAA’ (triple-A) from ‘AA+’.
PACRA rating report states that ‘The strength of the Bank is reflected in the high proportion of retail deposits in the total. Hence, concentration is low along with reduced risk. The Bank continued with its strategy for outreach expansion – adding significant branches every year. Cost to total income declined during the year. Exceptional asset quality – lowest in industry, maintained for last many years is reflective of the Bank’s strength. Strong net mark up income was further augmented by enhanced non-mark up income’.
The report further states that BAHL’s Capital Adequacy Ratio increased to 15.1% in Dec-2020 end, giving BAHL a healthy cushion to expand its advances book. COVID-19 is an ongoing challenge.
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