On the basis of 2007 financial year results, the Pakistan Credit Rating Agency (Pacra) has maintained the long-term and short-term rating of Pak-Libya Holding Company Limited at "AA-" (double A minus) and at "A1+" (A one plus) respectively.
These ratings denote a very low expectation of credit risk emanating from the highest capacity for timely payment of financial commitments. Pak-Libya Holding Company Limited is one of the leading financial institutions of Pakistan engaged in a variety of financial services and catering to the need of industrial, business and consumer sector.
Its investment and financing operations cover both fund and non-fund based activities, which includes investment banking operations, consumer banking, equity participation, lease financing, capital market operations, treasure operation, issuance of guarantees, underwriting of public issues and corporate finance advisory services.
As per the audited accounts for the 2007 financial year, Pak-Libya Holding Company has earned a net profit after tax of Rs 499 million, depicting 69 percent increase over last year. In 2007, the phenomenal increase in profitability resulted in improvement of return on equity and return on assets.
The company has a well-diversified assets portfolio of Rs 19,631 million as on December 31, 2007. During the aforesaid period, the equity of Pak-Libya Holding Company stood at Rs 7,141 million. The company has a strong capital structure, primarily constitutes Tier I Capital (Total CAR:44 percent), which has improved providing ample room the further growth.
It may be pertinent to mention that Pak-Libya Holding Company has achieved the SBP's benchmark of the Minimum Capital Requirement (MCR) of rupees six billion in 2007, ie two years year ahead of the prescribed time limit. Pak-Libya Holding Company was established as a joint stock company in 1978 equally owned by the governments of Pakistan and Libya. -PR
Comments
Comments are closed.