BD's BRAC Bank receives highest credit rating from Moody's Investor Service

The only bank to achieve a credit rating equivalent to the Sovereign Rating of Bangladesh - BRAC Bank. The BRAC Bank Limited gives priority to financing small and medium industries. It is one of the fastest growing banks in the country since its inception in 2001. 

Dhaka:  Moody's Investors Service gave 'BA-Three' credit rating to Bangladesh's bank BRAC Bank Limited. This is the highest credit rating in the banking sector of Bangladesh. It shows the bank's outlook stable. 

According to BRAC Bank, the Bank is the only financer with 'BA-Three' rating, equivalent to Bangladesh's sovereign rating. The bank has been maintaining this remarkable achievement since 2019.

As of September 22, 2022, Moody's rated the 'BA-Three' long-term deposit and issuer rating as a reflection of BRAC Bank's superior asset quality and capitalization over other banks. This rating reflects the bank's strong funding structure and improved liquidity.   

The country's strong economic growth and the moratorium on loan repayments due to the pandemic have eased the repayment burden on affected borrowers. This will strengthen the financial base of the bank by limiting the asset-quality deterioration of the bank over the next 12-18 months. This is Moody's expectation for BRAC Bank's stable rating outlook. 

Managing Director and CEO of BRAC Bank Salim R. F. Hussain said: "We have been able to achieve this excellence in credit rating over the years due to efficient management of balance sheet and liquidity, strict compliance, independent and visionary board and professional management team. We share this achievement with our customers, shareholders, regulatory bodies and other stakeholders. We are delighted to have done so, whose unwavering trust has brought us to where we are today.”  

Good governance, compliance, ethics and transparency are the pillars of BRAC Bank's business model. It is widely believed that the best credit rating, highest investment by foreign investors, highest market capitalization, recognition from SAFA and ICAB, strong good governance system, strong financial base and reputation of the bank in the local and global environment will drive BRAC Bank to become more people-friendly.


Image: BRAC Bank

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