The Pakistan Credit Rating Agency (Pacra) has maintained the long-term and short-term ratings of BankIslami Pakistan Limited (BIPL) at A- (Single A Minus) and A2 (A Two) respectively, says a press release. These ratings denote a low expectation of credit risk emanating from a strong capacity for timely payment of financial commitments.
The ratings reflect BIPL's articulated business plan to fast establish itself as an active player in the emerging Islamic banking segment. The bank, in a short span of time, has set up an adequate operating platform, supplemented by an effective risk management framework to execute its overall business plan. However, the extent to which the strategies materialise into desired results, and the related timeline remain to be seen.-PR