JCR-VIS has maintained the entity ratings of Crescent Commercial Bank Limited at 'BBB+' and 'A 2' (Triple B Plus /Single A Two). Crescent Commercial Bank Limited merged with Trust Commercial Bank Limited (TCBL) in October 2004. The merger added six branches to the bank's setup and increased paid-up capital to Rs 2.2 billion.
However, the bank's progress had been constrained by the pace of deposit mobilisation. Unless business generation and funding mobilisation is expedited, ratings may be adversely affected and have, therefore, been assigned a 'negative' outlook.
The top management has recently changed hands and enhanced focus is being placed on expansion of the branch network and team development.
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