LAHORE, June 26: The Pakistan Credit Rating Agency (Pacra) has upgraded the long-term entity rating of First Women Bank Limited (FWBL) to “A-” from “BBB+”, while maintaining the short-term entity rating at “A2”.

These ratings denote a low expectation of credit risk while the capacity for timely payment of financial commitments is considered strong, a press release said. The ratings reflect recent change in the ownership structure of the bank wherein the Government of Pakistan (GoP) has become major shareholder (60pc).

Updated Jun 26, 2012 10:01pm

More From This Section

ADB approves $400m for energy

ISLAMABAD: The Asian Development Bank (ADB) on Thursday approved a $400 million loan to Pakistan to support ongoing...

Comments (0) (Closed)