Askari Bank Limited – Ratings Affirmed with a Stable Outlook
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Summary
Ref: PK 0 0 2 1 9 CRA00- 01 4 November 2020
Askari Bank Limited – Ratings Affirmed with a Stable Outlook
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 ( A BL ) at ‘B-’ and ‘B’, respectively. At the same time, CI Ratings has affirmed A BL ’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.
The Bank’s FCRs reflect its financial credit strengths of a good funding and liquidity profile supported by a high level of liquid assets, a growing domestic customer deposit base which funds over three-quarters of assets, and relatively good loan asset quality. In addition, profitability has improved…