National Bank of Pakistan – Ratings Affirmed

24 June 2026

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

The Bank’s LT FCR and BSR is constrained by CI’s internal assessment of sovereign credit risk for Pakistan. NBP is majority-owned by the Pakistan government and is the flagship bank in the country.

The ESL is assessed as being Moderate. This balances the moderate capacity of the financially weak sovereign to provide support, with the high likelihood of the Bank receiving extraordinary support from the authorities. Apart from its ownership, NBP is a domestic systemically important bank status….