BRAC Bank has retained the country's highest credit rating 'AAA' for three years on the trot from Bangladesh's most prominent agency - Credit Rating Agency of Bangladesh (CRAB) - manifesting its solid financial strength and stability.
CRAB has reaffirmed 'AAA' for the long-term and ST-1 for the short-term with a 'Stable' outlook for BRAC Bank. 'AAA' is the highest issuer credit rating assigned by CRAB in Bangladesh. This latest credit rating will be valid till June 30, 2025.
The rating demonstrates that the bank is stable and can meet its financial commitments on time. 'AAA is considered the highest quality with minimal credit risk.
CRAB cites strong fundamentals, including a strong ownership structure, good capitalization with strong tier 1 capital, a strong and stable low-cost deposit base, sound liquidity backed by a healthy funding profile, relatively lower large loan concentration, and a strong network of branches and alternate delivery channels.
Commenting on achieving Bangladesh's highest credit rating, the bank's Managing Director & CEO, Selim R. F. Hussain said: "We feel honoured to continue 'AAA' credit rating by CRAB. This unique achievement has resulted from the bank's continuous efforts towards improving and maintaining an industry-above capital base, better asset quality, exemplary corporate governance and superior liquidity position."
