PACRA Maintains Entity Ratings of ORIX Leasing Pakistan Limited - Press Release issued by The Pakistan Credit Rating Agency Limited.
Lahore -- March 04, 2021 (PPI-OT)
Following is the text of press release issued by The Pakistan Credit Rating Agency Limited (PACRA)
Quote
The ratings reflect OLP's leading market position in the industry. In the current economic conditions, the focus of the Company remained on risk management and risk diversification. The presence of three independent and four non-executive Directors on the Board, having vast industry experience in their respective fields, provides extra strength to the Company's standing and governance structure. Further, the Company utilizes its experience of the past thirty-four years to gauge the market situation and take right decisions in the fast changing environment.
COVID-19 has raised multiple challenges for corporate and financial sectors. While ramifications of the pandemic are still unfolding, the economic wheel has started rolling. This has been positively cushioned by steps taken by the regulatory and governing bodies including reduction in the interest rates. Under challenging conditions, OLP remained focused on maintaining the quality of its assets and exploring various options to maintain profitability, which was successfully achieved in the recently reported period.
The economic revival with impetus on construction sector along with the growth of automobile...
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