Habib Bank AG ratings reaffirmed

JCR-VIS Credit Rating Co has reaffirmed the medium to long-term rating of Habib Bank AG Zurich Pakistan branches at 'AA+' (Double A Plus) with 'stable' outlook. Short-term rating has been reaffirmed at 'A 1+' (A One Plus).
Habib Bank AG Zurich belongs to the Habib Group, which has a longstanding history and extensive banking experience.
The bank is incorporated in Switzerland and has an asset base exceeding $3 billion and a sound capital base of over $300 million.
Pakistan branches experienced substantial growth in their core assets. Spreads improved, a deposit cost was rationalised and stable and less expensive funds were generated.
However, diversification in sources of income and prudent growth in business volumes have become increasingly important to enhance core profitability indicators.