Entity Ratings of Rozgar Microfinance Bank maintained

Karachi: JCR-VIS Credit Rating Company Limited (JCR-VIS) has maintained the entity ratings of Rozgar Microfinance Bank Limited (RMBL) at ‘BB+/A-3’ (Double B Plus/A-Three).

Existing shareholders of the bank are in the process of finalizing sale of entire shareholding in the bank; in view of this, ratings of the institution have been placed under ‘Rating Watch – Positive’ status. This may entail a complete overhaul of the business model of the bank, and may also entail capital injection. At present equity of the bank is below the minimum capital requirement for a district level microfinance bank.

Lending activities remained subdued in 2011 and the resource base is primarily deployed in short term government securities. Bottom line results of the bank were positive for the first time since its inception in the out-going year.

For more information, contact:
Mr. Javed Callea
JCR-VIS Credit Rating Company Limited
Tel: +9221 35311861 (10 lines) (Ext: 501)
Fax: +9221 35311872-3
E mail: javed.callea@jcrvis.com.pk

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