December 05, 2018 (MLN): Pakistan Credit Rating Agency (PACRA) has maintained the entity ratings of Apna Microfinance Bank Limited, at ‘BBB+’ for long term and ‘A3’ for short term, with a ‘stable’ outlook forecast.
According to PACRA, the ratings capture improved risk profile of the bank and also take into account sponsors' cognizance of the situation and commitment to turnaround the bank, wherein considerable achievement has been achieved. Financial risk profile is, however, reflected by stretched liquidity position, necessitating vigilant management approach.
Lately, the management has completely revamped the bank's operations including cleansing of HR base, re-building the organizational structure incorporating control monitors, overhauling of IT infrastructure, improving the overall control environment with revisiting policies and procedures and refurbishing the credit mechanism. Outcome of the stated efforts has culminated into positive results, including profit generation since Jan-18.
Copyright Mettis Link News