KARACHI: JCR-VIS Credit Rating Company Limited (JCR-VIS) has assigned initial entity ratings of ‘AA+/A-1+’ (Double A Plus/A-One Plus) to Bank Alfalah Limited (BAFL). Outlook on the assigned ratings is ‘Stable’.
The assigned ratings reflect the bank’s diversified operations, healthy financial risk profile, strong sponsors and existing market presence. BAFL has exhibited sustained improvement across key performance areas including asset quality, liquidity, capitalisation and profitability.
Majority owned by the Abu Dhabi Group (ADG), comprising some of the prominent members of UAE’s ruling family and leading businessmen, BAFL is the fifth largest private sector bank in the country with a market share of 5.8% in domestic deposits at end-September’2016.
Published in The Express Tribune, February 18th, 2017.
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