July 2, 2003	Wednesday	Jumadi-ul-Awwal 1, 1424

LAHORE, July 1: The Pakistan Credit Rating Agency (Pacra) has maintained the long-term rating of Metropolitan Bank Ltd at “AA+” (double A plus) and the short-term rating at “a1+” (A one plus).

A Pacra announcement said on Tuesday the ratings denoted very low expectation of credit risk emanating from a very strong capacity for timely payment of financial commitments.

The ratings are applicable to the senior unsecured creditors (depositors) of the bank. This is the highest level of credit rating by Pacra in the commercial banking sector.

The ratings reflect the bank’s demonstrated ability of maintaining its performance and very strong risk profile on a stand-alone basis as well as with reference to peers despite the increasingly competitive and somewhat difficult operating environment. MBL, with an efficient operational structure, is well positioned to capitalize on any improvement in the economic environment.

ACBL: Meanwhile, Askari Commercial Bank Ltd’s long-term rating has been maintained at “AA” (double A) and short-term rating at “A1+” (A one plus). ‘

These ratings denote a very low expectation of credit risk emanating from a very strong capacity for timely payment of financial commitments. The ratings are applicable to the senior unsecured creditors (depositors) of the bank, according to Pacra.

The ratings reflect ACBL’s demonstrated ability of maintaining a low risk asset profile with continuing growth and sustained performance in an increasingly competitive operating environment, said the Pacra announcement.