BRAC Bank again got the highest credit rating ‘AAA’, from Bangladesh’s most prominent agency Credit Rating Agency of Bangladesh (CRAB) - showing its financial strength and stability.
CRAB has reaffirmed ‘AAA’ for long-term and ST-1 for the short-term with ‘Stable’ outlook for BRAC Bank. ‘AAA’ is the highest issuer credit rating assigned by CRAB.
The agency first assigned ‘AAA’ to BRAC Bank in 2022. This latest credit rating will be valid till June 30, 2024.
The rating is a testament to the fact that the bank is stable and can meet its financial commitments on time. ‘AAA’ is considered the highest quality with minimal credit risk.
Commenting on achieving Bangladesh’s highest credit rating, the bank’s Managing Director & CEO, Selim RF 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.”