Askari Bank Limited – Ratings Affirmed

Ref: P K 0 0 2 2 3 CRA00- 01 4 October 202 4

Askari Bank Limited – Ratings Affirmed

Capital Intelligence Ratings (CI Ratings or CI) today announced that it has affirmed the Long-Term Foreign Currency Rating ( LT FCR ) and Short-Term Foreign Currency Rating ( ST FCR ) of Askari Bank Limited (ABL) at ‘C+’ and ‘C’, respectively. At the same time, CI Ratings has affirmed ABL ’s Bank Standalone Rating ( BSR ) of ‘c’, Core Financial Strength ( CFS ) rating of ‘b’ and Extraordinary Support Level ( ESL) of Uncertain. The Outlook for all ratings is Stable.

ABL’s LT FCR is constrained by significant concentration risk in regard to the Bank’s large portfolio of Pakistan government securities and, inter-alia, CI’s internal assessment of sovereign credit risk.

ABL’s BSR of ‘c’ (CI does not append ‘+/-’ modifiers to BSRs in the ‘c’ category) is derived from a CFS…