PACRA Maintains Entity Ratings of Allied Bank Limited - Press Release issued by The Pakistan Credit Rating Agency Limited.
Lahore -- July 01, 2020 (PPI-OT)
Following is the text of press release issued by The Pakistan Credit Rating Agency Limited (PACRA)
Quote
Allied Bank Limited is one of the top five banks of the country in terms of its deposit share. The bank's franchise, spread over a network of 1,395 branches, has enabled sustainable footprints into the country's deposit base. The bank's risk absorption capacity, as reflected in its sound equity base, has grown over the years. Another reflection of this is ABL's significantly robust CAR (22% as at Dec19), beyond the industry average. While ABL has realistic approach towards lending, increased attention is being diverted towards deepening of current business relationships and an enduring emphasis is laid on building trade business.
The bank's technology platform is a strength. This has facilitated fast and effective decision making while extending quality counter banking and e-banking services to its customers, additionally this also has enabled itself to operate with high efficiency and capacity even in current pandemic situation. The related benefits would continue to unfold over the years. The ratings recognize the management's concerted efforts in sustaining the sound asset quality, which covered the high advances concentration comparatively to financially sound groups; ensuring that aggregate risks are within Bank's overall risk appetite.
The low infection ratio and good coverage ratio are considered positive. The continued strengthening in retail deposit market would...
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