Customs Today
  • Home
  • Islamabad
  • Karachi
  • Lahore
  • National
  • Transfers and Postings
  • Chambers & Associations
  • Business
No Result
View All Result
Customs Today
  • Home
  • Islamabad
  • Karachi
  • Lahore
  • National
  • Transfers and Postings
  • Chambers & Associations
  • Business
No Result
View All Result
Customs Today
No Result
View All Result
Home Breaking News

Moody’s confirms ratings of five Pakistani banks as stable

byCT Report
August 12, 2020
in Breaking News, Islamabad, Letters to Editor, Slider News
Share on FacebookShare on Twitter

ISLAMABAD: Moody’s Investors Service confirmed the B3 long-term local-currency and Caa1 foreign-currency deposit ratings of five Pakistani banks.

The banks include Allied Bank Limited (ABL), Habib Bank Limited (HBL), MCB Bank Limited (MCB), National Bank of Pakistan (NBP) and United Bank Limited (UBL).

You might also like

FBR tightens noose around unregistered retailers

August 7, 2022

ECC approves Rs5b for rescue, relief operation in flood -hit areas

August 7, 2022

According to a report published by Moody’s, the outlook on all Pakistani banks’ long-term local currency deposit ratings has changed to stable from ratings under review.

“Moody’s decision to confirm the banks’ ratings follows Moody’s decision to confirm Pakistan’s B3 sovereign ratings, which signals reduced pressure on Pakistan’s credit profile, indirectly supporting bank ratings, given their high exposures to government credit risk,” read the report.

The credit rating agency further said that its decision to confirm Pakistan’s B3 government bond ratings with a stable outlook, also results in the stabilisation of its view of the capacity of the Pakistani government to support the country’s banks in case of need.

“The stable outlook [for the banks] balances their stable funding and liquidity positions and Moody’s assumptions that government support will be forthcoming in case of need, against a difficult economic environment and renewed pressure on banks’ asset quality and profitability metrics,” the report further read.

Moody’s further stated that improvements in the operating environment and in the sovereign’s credit risk profile, combined with improvements in banks’ solvency metrics could place upward rating pressures.

Moreover, it said that downward pressure on banks’ ratings would develop following a downgrade of the sovereign rating, reflecting the high interlinkages between the banks’ credit profile and that of the government, and signaling a reduction in the government’s capacity to extend financial support to banks in case of need.

Furthermore, Moody’s said that downward pressure on the Baseline Credit Assessments (BCAs) of individual banks could also develop from a greater-than-expected deterioration in operating conditions from the coronavirus spread, weakening asset quality, profitability, and capital adequacy.

Related Stories

FBR tightens noose around unregistered retailers

byCT Report
August 7, 2022

ISLAMABAD: The Federal Board of Revenue (FBR) has issued a list of 114 unregistered retailers (Tier-1) and decided to take...

ECC approves Rs5b for rescue, relief operation in flood -hit areas

byCT Report
August 7, 2022

ISLAMABAD: Economic Coordination Committee of the Cabinet has approved the technical supplementary grant worth five billion rupees for National Disaster...

U.S. dollar banknotes are displayed in this illustration taken, February 14, 2022. REUTERS/Dado Ruvic/Illustration

Pakistan gets green signal for $8b package from friendly countries

byCT Report
August 6, 2022

ISLAMABAD: Pakistan has been given a green signal by friendly countries to provide investment and funding. According to sources within...

UAE to invest $1b in Pakistani companies

byCT Report
August 6, 2022

DUBAI: The United Arab Emirates intends to invest $1 billion in Pakistani companies across various sectors, state news agency (WAM)...

Next Post

SSGC should revisit its extraction accord with JJVL in best national interest: Senate body

  • Contact us
  • Terms and Conditions
  • Disclaimer

© 2011 Customs Today -World's first newspaper on customs. Customs Today.

No Result
View All Result
  • Transfers and Postings
  • Latest News
  • Karachi
  • Islamabad
  • Lahore
  • National
  • Chambers & Associations
  • Business
  • Contact us
  • About Us

© 2011 Customs Today -World's first newspaper on customs. Customs Today.