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The Pakistan Credit Rating Agency (Pacra) has maintained long-term and short-term entity ratings of Bank AL Habib Limited (BAHL) at "AA+ (Double A Plus) and Al+" (A One Plus), respectively. The ratings of two listed, unsecured subordinated TFCs issues of Rs l,350 million and Rs l,500 million and two privately placed, unsecured subordinated TFCs issues of Rs 2,000 million and Rs 3,000 million have also been maintained at "AA" (Double A).
These ratings denote a very low expectation of credit risk emanating from a very strong capacity for timely payment of financial commitments. The ratings reflect BAHL's strong performance, exceptional asset quality, and stable financial profile. The ratings draw comfort from the bank's experienced management team with prudent risk management practices.
The ratings incorporate the bank's ability to capitalise on its expanded branch network augmenting deposit mobilisation. The management continued to place deposits in liquid investments while seeking diversification in its advances portfolio at the same time. The Bank AL Habib's sponsors are members of Habib family - one of the oldest and most distinguished names in Pakistan's banking sector.
BAHL's ten-member BoD has five representatives of Habib family, including the CEO and an executive director, three independent directors and two non-executive directors. The board, while providing strategic guidance to the management, monitors the bank's policies and operations through its committee structure. Abbas D. Habib, the CEO, has over four decades of xperience in domestic and international markets.-PR

Copyright Business Recorder, 2012

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