PACRA maintains MCB’s AAA ratings

LAHORE: The Pakistan Credit Rating Agency (PACRA) has maintained the long term and short term entity ratings of MCB Bank Limited (MCB) at "AAA" (Triple A) and "A1+" (A One Plus), said a statement issued Tuesday.
The ratings denote the lowest expectation of credit risk emanating and strong capacity for timely payment of financial commitments. The ratings take note of MCB's exceptionally strong financial profile, reflected in solid capitalisation (CAR: 20 percent - the highest in peer universe), sound liquidity, and diversified deposit base. This has been enabled by the bank's able parentage, wherein a diverse mix of sponsors - mainly led by Nishat Group -has been providing an effective oversight.
The bank intends to inculcate a result oriented culture, whereby design of its strategy and systems should ensure sustainability in the business philosophy. The ratings factor in MCB's strong market positioning, supported by its well established brand name and substantial outreach.