National Bank of Pakistan ’s Ratings Affirmed

Ref: PK 00 8 20 CRA00- 01 21 October 202 1

National Bank of Pakistan ’s 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 F oreign Currency Rating (ST FCR) of National Bank of Pakistan (NBP) at ‘B-’ and ‘B’, respectively. At the same time, CI Ratings has also affirmed NBP’s Bank Standalone Rating (BSR) of ‘b-’ and Core Financial Strength ( CFS) rating of ‘bb-’. The Outlook for the LT FCR and BSR remains Stable.

The Bank’s LT FCR is at the same level as the BSR and is constrained by CI’s internal assessment of sovereign credit risk for Pakistan. NBP’s FCRs reflect its majority government ownership, and its market share of both assets and customer deposits which is the second highest in the country. The FCRs also incorporate significant…