National Bank of Pakistan – Outlook Revised to Negative

Ref: P K 0 0 8 2 1 CRA00- 01 2 9 Sept ember 202 2

National Bank of Pakistan – Outlook Revised to Negative

Capital Intelligence Ratings (CI Ratings or CI) today announced that it has revised the Long-Term Foreign Currency Rating ( LT FCR) and Bank Standalone Rating ( BSR) Outlook of National Bank of Pakistan (NBP) to Negative from Stable. At the same time, CI Ratings has affirmed the Bank’s LT FCR and Short-Term Foreign Currency Rating (ST FCR) at ‘B-’ and ‘B’, respectively. NBP’s BSR of ‘b-’ and Core Financial Strength ( CFS) of ‘bb-’ have also been affirmed.

The revision of the Outlook to Negative follows a downward adjustment of CI’s internal assessment of the creditworthiness of the Pakistan sovereign and reflects our view that sovereign risk has increased, and that the operating environment has become more challenging. Pakistan’s external vulnerabilities have increased, including the…