JCR-VIS Credit Rating Company has removed the Rating Watch on Ratings of BBB/A-2 (triple B/A-Two) with a stable outlook, assigned to the Bank of Khyber.
The bank is currently in the process of finalising its formalities for the Initial Public Offer, which will increase the paid up capital of the Bank to Rs 1.64 billion and comply with the existing minimum paid-up capital requirement, effective since January 1, 2005. The Credit Rating company said that currently in charge interim management is operating the bank's business in a satisfactory manner.
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