PACRA Upgrades Broker Fiduciary Rating of KTrade Securities Limited - Press Release issued by The Pakistan Credit Rating Agency Limited.

Lahore -- May 15, 2023 (PPI-OT)

Following is the text of press release issued by The Pakistan Credit Rating Agency Limited (PACRA)

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The rating upgrade incorporates the strengthening of the internal control framework with the appointment of a separate head of risk management in addition to an outsourced internal audit and dedicated compliance function. The assigned rating takes comfort from a management team consisting of seasoned professionals providing the clients with access to a state-of-the-art mobile app and services such as web-based trading and up-to-date research reports.

The rating accounts for the strong sponsors' profile and a sound governance structure which has strengthened further with the addition of two independent directors. Financially, KTrade has performed in line with the market and has successfully managed to sustain its market...