Consequent to completion of merger of Pakistan branches of Habib Bank AG Zurich with and into Metropolitan Bank Limited, Pacra removes its ratings from rating watch.
The name of the merged entity has been changed to Habib Metropolitan Bank Limited (HMB). Pacra affirms the long-term and short-term entity ratings of HMB at "AA+" (Double A plus) and "A1+" (A one plus), respectively.
These ratings denote a very low expectation of credit risk emanating from a very strong capacity for timely payment of financial commitments.-PR