KARACHI: The Pakistan Credit Rating Agency Limited (PACRA) has maintained the long-term rating of “AA-” (Double A Minus) and a short-term rating of “A1+” (Single A One Plus) for Soneri Bank Limited (SBL).
According to a notification issued on Friday, PACRA has also maintained the credit rating of unsecured, subordinated and listed Term Finance Certificate (TFC-2) issue of worth PKR 3.00 billion at A+ (Single A Plus). The ratings reflect Soneri Bank’s sustained business profile; system share remained intact YoY. Going forward, the Bank while focusing to improve asset quality intends to follow a prudent strategy in terms of advances growth. Enhancing non-fund based exposure, in turn fee income and would be targeted while capitalizing on potential business opportunities expected from China-Pakistan Economic Corridor.
At the same time, the strategy would be to mobilise low-cost deposits with an increase in branch network.
Published in Daily Times, December 16th 2017.
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