VIS Reaffirms Entity Ratings of Pak Oman Microfinance Bank Limited

By MG News | April 26, 2019 at 10:58 AM GMT+05:00

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April 26, 2019: VIS Credit Rating Company Limted has reaffirmed the entity ratings of Pak Oman Microfinance Bank Limited (POMFB) at ‘A-/A-2’. Outlook on the assigned ratings is ‘Stable’.

The assigned ratings incorporate POMFB’s strong sponsors profile while LOLC Private Limited (LOLC) being the parent continues to provide technical and managerial support to POMFB.

Ratings also take into account the bank’s existing healthy liquidity and sound capitalization levels. Moreover, earning profile is projected to improve as the Bank continues to aggressively grow its loan book.

Ratings are constrained by weakening in asset quality indicators on a timeline basis. Ratings remain dependent on improving asset quality indicators as levels of disbursement increase, requiring strengthening of IT infrastructure and internal controls as planned.

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