April 20, 2024, 1:44 am

BRAC Bank again gets highest credit rating from Moody’s Investor Service 

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Update : Saturday, November 26, 2022

  • Only bank achieving credit rating equivalent to the Sovereign Rating of Bangladesh 

Staff Reporter Dhaka : BRAC Bank has again got the highest Credit Rating ‘Ba3’ with a ‘Stable’ Outlook affirmed by the internationally renowned agency Moody’s Investor Service.

BRAC Bank is now the only Bangladeshi Bank with ‘Ba3’ rating, which is equivalent to the Sovereign Rating of Bangladesh, an extraordinary accomplishment the bank has maintained since 2019.

According to Moody’s latest affirmation on September 22, 2022, BRAC Bank’s Ba3 long-term deposit and issuer ratings reflect its better-than-peer average asset quality and capitalization. The ratings also reflect the bank’s strong funding structure and good liquidity.

The stable outlook on BRAC Bank’s ratings reflects Moody’s expectation that Bangladesh’s robust economic growth and the pandemic-related forbearance measures that eased the debt repayment burden of affected borrowers will limit the bank’s asset-quality deterioration and support its solvency over the next 12-18 months, Moody’s report added.

Commenting on the rating, the bank’s Managing Director & CEO, Selim R. F. Hussain said: “Efficient management of balance sheet and liquidity, strong compliance culture, independent and visionary board and a professional management team have been key determinants of this credit rating excellence over the years. We are happy to share this achievement with our valued customers, shareholders, regulators and other stakeholders whose unwavering trust makes us what we are today.”

Good governance, compliance, ethics and transparency are the pillars of BRAC Bank’s business model. Industry best credit rating for consecutive years, highest investment by overseas investors, highest market capitalization and recognitions from SAFA, ICAB bear testimony to the bank’s strong governance and robust financial strength and image on the local and global stage.

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