PACRA maintains ratings of Soneri Bank

KARACHI: Soneri Bank has maintained its market position in the industry while strengthening its overall risk profile with stable outlook. Pakistan Credit Rating Agency Limited (PACRA) has accredited Soneri Bank with ‘AA-’ (double A minus) for its long-term rating and ‘A1+’ (single A one plus) for the bank’s short-term rating. Soneri Bank has also maintained the rating of unsecured, sub-ordinated and listed term finance certificates (second issue) of Rs3,000 million at A+ (single A Plus) along with the rating of recently issued unsecured, sub-ordinated, listed, perpetual and non-cumulative term finance certificates as additional tier 1 (ADT1) capital of Rs4,000 million at A (Single A), all accredited by PACRA. Soneri Bank with its network of over 290 branches and 300 plus ATMs continues to work towards the financial betterment and will continue to value the patronage given by its customers.