PACRA maintains entity ratings of ABL

By MG News | July 12, 2023 at 10:05 AM GMT+05:00

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July 12, 2023 (MLN): Pakistan Credit Rating Agency Limited (PACRA) has maintained entity ratings of Allied Bank Limited (PSX: ABL) at "AAA" for the long term and "A1+" for the short term with a stable outlook forecast, the latest company’s filing to the bourse showed.

The assigned ratings incorporate ABL’s position as one of the largest commercial banks in the country.

The Bank’s technology platform is a strength. This has facilitated fast and effective decision-making while extending quality counter Banking and eBanking services to its customers.

The related benefits would continue to unfold over the years. A more focused digital drive is one of the pillars of the envisaged strategy.

Currently, ABL's scrip is trading at Rs71.38 per share, down by 2.22% DoD.

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