April 12, 2024 9:05 pm
Home Banking BRAC Bank maintains top credit ratings

BRAC Bank maintains top credit ratings

by fstcap

BRAC Bank retains its position as the highest-rated bank in Bangladesh by Moody’s Investors Service, according to a statement. The internationally renowned agency affirmed a ‘B1’ rating with a ‘Stable’ Outlook for the bank.

This rating is equivalent to Bangladesh’s sovereign rating, a distinction BRAC Bank has held since 2019.

Moody’s also revised the outlook for Bangladesh’s banking system from negative to stable, reflecting an easing of profitability and liquidity pressures.

BRAC Bank boasts the strongest core capital base among Moody’s-rated Bangladeshi banks. In December 2023, S&P Global Ratings reaffirmed their ‘B+’ credit rating with a ‘Stable’ Outlook for BRAC Bank, making it the only Bangladeshi company rated by S&P.

These top ratings from both Moody’s and S&P Global Ratings acknowledge BRAC Bank’s superior performance in asset quality, liquidity and capital adequacy compared to the industry average. These strengths are underpinned by the bank’s diversified business model, extensive network, skilled management team and strong corporate governance culture.

The ‘Stable’ Outlook indicates confidence in BRAC Bank’s ability to navigate challenging operating conditions in Bangladesh and maintain its financial health over the next 12-18 months.

BRAC Bank also holds the highest possible rating (“AAA”) from domestic credit rating agencies Credit Rating Agency of Bangladesh (CRAB) and Emerging Credit Rating Ltd.

Source: thefinancialexpress

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