Askari Bank Limited – Ratings Affirmed

Ref: PK 00 2 20 CRA00- 01 3 November 202 1

Askari Bank Limited – Ratings Affirmed

Capital Intelligence Ratings (CI Ratings or CI) today announced that it has affirmed the L ong-Term Foreign Currency Rating (L T FCR ) and Short-Term Foreign Currency Rating ( ST FCR ) of Askari Bank Limited (ABL) at ‘B-’ and ‘B’, respectively. At the same time, CI Ratings has affirmed ABL ’s B ank S tandalone R ating (BSR) of ‘b-’ and C ore F inancial S trength (CFS) rating of ‘b+’. The Outlook for the ratings remains Stable.

ABL’s LT FCR is constrained by significant con centration risk in regard to the Bank ’s large portfolio of Pakistan government securities and, inter-alia, CI’s internal assessment of sovereign credit risk. The Bank ranks as 11 th largest in Pakistan and thus has a modest market share , but nevertheless a strong franchise in the Punjab region.

ABL’s…