Brac Bank maintains S&P's 'stable' outlook despite challenges
Brac Bank has received a 'B+' Credit Rating with a 'Stable' outlook affirmed by the world's top credit rating company, S&P Global Ratings.
According to S&P's latest affirmation on 20 December, Brac Bank's B+ long-term rating reflects its asset quality, liquidity and capital adequacy supported by its business model, distribution network, management team and corporate governance culture, said a press release.
The stable outlook on Brac Bank's ratings reflects S&P's expectation that it will overcome challenging operating conditions in Bangladesh and maintain its financial profile over the next 12-18 months.
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According to the media release, Brac Bank is the only Bangladeshi company rated by S&P and the only bank having a sovereign equivalent rating of Bangladesh (Ba3) by Moody's, another top international credit rating agency. This year, Brac Bank also achieved "AAA", the highest possible rating from the Credit Rating Agency of Bangladesh (CRAB).
