LAHORE, Sept 13: Muslim Commercial Bank has been assigned a long-term rating of “AA” (double A) and short-term rating of “A1+” (A one plus) by Pakistan Credit Rating Agency (Pacra).

A Pacra announcement said on Friday the ratings denoted a very low expectation of credit risk emanating from the strong capacity for timely payment of financial commitments. The ratings are applicable to the senior unsecured creditors (depositors) of the bank.

The assigned ratings reflect the bank’s continuing policy of maintaining a low risk profile with steady growth through deposit mobilization and improved risk profile of advances by way of enhanced provisioning. Going forward, the bank is well positioned both by virtue of its size and strong technology platform to sustain its outstanding performance despite a difficult operating environment and increasing competition within the bank-ing sector, said the announcement.