Pubali Bank 'Double A Three' rated
Tuesday, 27 April 2010
FE Report
Pubali Bank Limited was rated AA3 in the Long Term and ST1 in the Short Term.
"This level of rating indicates very strong capacity for timely payment of financial commitments in both Long Term and Short Term with very low likeliness to be adversely affected by foreseeable events," a statement of the bank said Monday.
This rating assignment was based on the Audited Financial Statements of December 31,2009 and other relevant information.
Managing Director of CRAB Hamidul Huq handed over the Credit Rating Report to Managing Director of Pubali Bank Helal Ahmed Chowdhury in a simple ceremony. Deputy Managing Directors of Pubali Bank Khurshid-Ul-Alam, Mahbub Mustafizur Rahman and Safiul Alam Khan Chowdhury, General Manager of Recovery Division Sk. Golam Mohammad, GM & Chief Financial Officer (CFO) Sayed Ahmed FCA, GM & Company Secretary Md. Sayeed Sikder, GM & Chief Technical Officer Mohammad Ali, among others, were present at the ceremony.
In his speech, Mr Helal Ahmed Chowdhury expected that the credit rating would enhance the transparency of the bank and customers' confidence.
He also said that Pubali Bank, the largest private bank, has made significant achievements in the recent years including reduction of non-performing loan.
Pubali Bank Limited was rated AA3 in the Long Term and ST1 in the Short Term.
"This level of rating indicates very strong capacity for timely payment of financial commitments in both Long Term and Short Term with very low likeliness to be adversely affected by foreseeable events," a statement of the bank said Monday.
This rating assignment was based on the Audited Financial Statements of December 31,2009 and other relevant information.
Managing Director of CRAB Hamidul Huq handed over the Credit Rating Report to Managing Director of Pubali Bank Helal Ahmed Chowdhury in a simple ceremony. Deputy Managing Directors of Pubali Bank Khurshid-Ul-Alam, Mahbub Mustafizur Rahman and Safiul Alam Khan Chowdhury, General Manager of Recovery Division Sk. Golam Mohammad, GM & Chief Financial Officer (CFO) Sayed Ahmed FCA, GM & Company Secretary Md. Sayeed Sikder, GM & Chief Technical Officer Mohammad Ali, among others, were present at the ceremony.
In his speech, Mr Helal Ahmed Chowdhury expected that the credit rating would enhance the transparency of the bank and customers' confidence.
He also said that Pubali Bank, the largest private bank, has made significant achievements in the recent years including reduction of non-performing loan.