S&P rates BRAC Bank as top bank in BD

BRAC Bank has once again secured a 'B+' credit rating with a 'Stable' outlook, as affirmed by the world's leading credit rating agency, S&P Global Ratings.

Despite challenges in the banking sector, the US-based S&P Global Ratings has kept confidence on BRAC Bank maintaining a solid 'B+' rating with a 'Stable' Outlook. This is equivalent to the sovereign rating of Bangladesh and the highest among the banks S&P rates in Bangladesh, says a statement.

In a statement, S&P said, "BRAC Bank has been able to establish a good branch network and online presence. The bank's access to Retail remittances and export-oriented clients will help it navigate the challenges arising from Bangladesh's weak external position. We believe the bank will maintain its satisfactory franchise, particularly in the SME and retail segments in the underpenetrated Bangladeshi market. BRAC Bank also benefits from above-industry-average asset quality."

"The stable outlook on BRAC Bank reflects our view that the bank should be able to steadily navigate the challenging operating conditions in Bangladesh and maintain its financial profile over the next 12-18 months," S&P added.