LAHORE: The Pakistan Credit Rating Agency (PACRA) on Wednesday upgraded the Bank of Punjab (BoP) to a long-term entity credit rating of AAA from AA+ with a stable outlook, and retained its top-tier A1+ short-term rating.

The bank has officially broken new ground as the first and only provincial bank in the country to ever reach the prestigious AAA tier.

The rating elevation follows a phenomenal performance in which the bank’s total deposits crossed the Rs2 trillion milestone, while its operating profit before credit loss allowance nearly doubled, skyrocketing by 98.5 per cent to Rs40.7bn.

“AAA is more than a rating; it is proof of what disciplined, professional banking can build. We have created a commercially strong institution that delivers sustainable value for shareholders while staying true to financial inclusion, responsible banking, and the development of Punjab and Pakistan,” said BoP President and CEO Zafar Masud.

The bank currently stands as Pakistan’s largest lender in SME, agriculture, low-cost housing, and women’s entrepreneurship, alongside being the country’s leading digital lender and largest credit card issuer.

Published in Dawn, July 2nd, 2026