Islami Bank upgraded to 'AA'
Tuesday, 10 July 2007
FE Report
The Credit Rating Information and Services Ltd (CRISL) has upgraded long- term rating of Islami Bank Bangladesh Ltd (IBBL) to 'AA (pronounced as double A) from 'AA-' (pronounced as double A minus) and reaffirmed short term rating ST-1, said a press release.
The upgradation was done on the basis of IBBL's wide branch network, strong market share, stable customer deposit base, diversified and innovative Shari'ah-based product lines, experienced management team, own professional cadre at each management level, contribution to corporate social responsibility, good financial performance, good asset quality, comfortable liquidity position and low cost of fund.
Financial institutions rated in this category are adjudged to be of high quality, offer higher safety and have high credit quality. This level of rating indicates a corporate entity with a sound credit profile and without significant problems. Risks are modest and may vary slightly from time to time because of economic conditions.
The short-term rating indicates the highest certainty of timely payment. Short-term liquidity, including internal fund generation, is very strong and access to alternative sources of fund is outstanding. Safety is almost like risk- free government short-term obligations.
The Credit Rating Information and Services Ltd (CRISL) has upgraded long- term rating of Islami Bank Bangladesh Ltd (IBBL) to 'AA (pronounced as double A) from 'AA-' (pronounced as double A minus) and reaffirmed short term rating ST-1, said a press release.
The upgradation was done on the basis of IBBL's wide branch network, strong market share, stable customer deposit base, diversified and innovative Shari'ah-based product lines, experienced management team, own professional cadre at each management level, contribution to corporate social responsibility, good financial performance, good asset quality, comfortable liquidity position and low cost of fund.
Financial institutions rated in this category are adjudged to be of high quality, offer higher safety and have high credit quality. This level of rating indicates a corporate entity with a sound credit profile and without significant problems. Risks are modest and may vary slightly from time to time because of economic conditions.
The short-term rating indicates the highest certainty of timely payment. Short-term liquidity, including internal fund generation, is very strong and access to alternative sources of fund is outstanding. Safety is almost like risk- free government short-term obligations.