LAHORE, July 11: Pakistan Credit Rating Agency has maintained the long-term rating of “A” (single A) and the short-term rating of “A1” (A one) for the Bank of Punjab.

The ratings denote low expectation of credit risk emanating from strong capacity for timely payment of financial commitments, says an announcement by Pacra issued here on Thursday.

The ratings are applicable to senior unsecured creditors (depositors) of the bank.

While assigning the ratings, Pacra announcement said, it had taken cognizance of the virtually unchanged risk absorption capacity. The ratings also recognize the increased risk of potential loss emanating from a higher proportion of non-performing loans, though mitigated by the continuing reasonably successful efforts for recovery and settlement of the non-performing loans.