Moody's maintains stable outlook on Pakistan’s banking system

MG News | April 11, 2022 at 09:43 AM GMT+05:00

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April 11, 2022 (MLN): Moody’s Investors Service on Monday maintained its stable outlook on Pakistan’s banking system, signifying economic momentum and growing financial inclusion.

The rating agency in its latest report titled 'Banking System Outlook – Pakistan: Stable outlook supported by an expanding economy and banks' sound finances' mentioned that Pakistani banks have successfully navigated the pandemic.

The rating agency said that it expects nonperforming loans (NPLs) to remain high but broadly stable at around 9% of gross loans.

On the profitability front, Moody's added that it will rise moderately due to new business generation and gradually recovering net interest margins.

" We expect dividend payouts to rise this year," it stated.

Besides, the rating agency expects Pakistan's GDP would grow in the range of 3-5% for the fiscal year 2022 while the economy to expand up to 5% in FY2023.

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