Pubali Bank rated ‘Double A’

April 27, 2010

Pubali Bank Limited(PBL) rated AA3 (Pronounced Double A Three) 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.
This rating assignment 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 at a simple ceremony.
Deputy managing directors’ of Pubali Bank Khurshid-Ul-Alam, Mahbub Mustafizur Rahman and Safiul Alam Khan Chowdhury, genaral manager of Recovery Division Sk. Golam Mohammad, GM and chief financial officer (CFO) Sayed Ahmed FCA, GM and Company Secretary Md. Sayeed Sikder, GM and chief technical officer Mohammad Ali among others were present at the ceremony.
In his speech, Helal Ahmed Chowdhury, managing director 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.

Courtesy of The Independent

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