KARACHI, June 28: The Pakistan Credit Rating Agency (PACRA) has maintained the long-term and short-term ratings of the Bank of Punjab (BoP) at “AA” (Double A) and “A1+” (A One Plus), respectively.

The PACRA has assigned a Positive Outlook to these ratings. The ratings denote a very low expectation of credit risk emanating from a very strong capacity for timely payment of financial commitments.

The ratings reflect BoP’s sustained improving performance, sound asset quality and strong risk absorption capacity emanating from a robust capital structure.

“PACRA also takes this opportunity to state that it has duly reviewed the data and information provided by the BoP’s management relating to certain specific loan exposures and implications regarding risk management systems, recently reported in the media,” said a release of PACRA adding that while strengthening the risk management framework continues to remain a key rating driver, the strong risk absorption capacity of the bank provides cushion against any unforeseen losses.