BRAC Bank again gets 'AAA' credit rating

BRAC Bank again received the highest credit rating 'AAA' from Bangladesh's most prominent agency -- Credit Rating Agency of Bangladesh (CRAB) -- showing its solid financial strength and stability, says a press release.
CRAB has reaffirmed 'AAA' for long-term and ST-1 for short-term with 'Stable' outlook for BRAC Bank. 'AAA' is the highest issuer credit rating assigned by CRAB. The agency first assigned 'AAA' to BRAC Bank in 2022. This latest credit rating will be valid until June 30, 2024.
The rating is a testament to the fact that the bank is stable and can meet its financial commitments on time. 'AAA' is considered the highest quality with minimal credit risk.
The bank's Managing Director & CEO Selim RF Hussain said: "We feel honoured to maintain 'AAA' credit rating assigned by the CRAB. This unique achievement has resulted from the bank's continuous efforts towards improving and maintaining an industry-above capital base, better asset quality, exemplary corporate governance and superior liquidity position."
"Efficient management of balance sheet and liquidity, strong compliance culture and a professional management team have been key determinants of this credit rating excellence. We are happy to share this achievement with our valued customers, shareholders, regulators and other stakeholders whose unwavering trust makes us what we are today," he added.
In 2019, BRAC Bank became the only bank to achieve a credit rating equivalent to the Sovereign Rating of Bangladesh by Moody's Investors Service. BRAC Bank is the only Bangladeshi bank rated by the world's most renowned agency S&P Global Rating.