Tameer Microfinance Bank assigned A/A1 entity ratings

Islamabad: Tameer Microfinance Bank has been assigned the long term and short-term entity ratings A (Single A) and A1 (A One) by the Pakistan Credit Rating Agency (PACRA).

The JCR-VIS Credit Rating Company, an affiliate of Japan Credit Rating Agency has also upgraded the entity ratings of Tameer Microfinance Bank from A-/A-2 (Single A-/ A2) to A/A- (Single A/A one). The outlook on the assigned ratings is ‘Stable’.

CEO and President Tameer Microfinance Bank Nadeem Hussain said, “This is a reflection of hard work, ownership and targeted focus on the target market. Despite the current economic conditions, Tameer Bank will continue to address the needs of the unbanked.”

These ratings reflect a low expectation of credit risk. The rating upgrade shows healthy growth in the asset base of the bank in 2010. The advance portfolio doubled in the year, which highlights Tameer’s strategic focus on core banking operations.

During the year, the credit risk also remained stable. Moreover, a reduced rate of delinquency was observed due to qualitative changes in the lending process. Profitability showed increased contribution from branchless banking.

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