Pakistan Credit Rating Agency Limited (PACRA) has upgraded the long-term rating of the Bank of Punjab to 'AA' (Double A), while the short-term has been maintained at 'A1+' (A One Plus).
According to PACRA's spokesman here on Wednesday, these ratings denote a very low expectation of credit risk emanating from a very strong capacity for timely payment of financial commitments. The bank's rating reflect its robust performance and strong risk absorption capacity.
Its regional brand equity and extensive branch network make it well positioned to capitalise on these inherent strengths despite the intensifying competition.
Moreover, the bank's management has made significant progress in terms of technological up gradation and human resource development for improving operational efficiency as well as service quality.
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