Credit Rating Agency of Bangladesh (CRAB) has upgraded long term credit rating of Jamuna Bank Limited (JBL) to “A1” (pronounced as single A one) and retained the short term rating at ST-2 based on audited financials up to 31st December 2010 and other relevant information.
Commercial Banks rated A1 in the long term belong to “Strong Capacity & High Quality” cohort. Banks rated A1 have strong capacity to meet their financial commitments but are somewhat more susceptible to the adverse effects of changes in circumstances and economic conditions than Commercial Banks in higher-rated categories. Such Banks are judged to be of high quality and are subject to low credit risk.
Commercial Banks rated in the short term ST-2 (High Grade) category are considered to have strong capacity for timely repayment of obligations. Commercial Banks rated in this category are characterized with commendable position in terms of liquidity, internal fund generation and access to alternative sources of funds.
CRAB upgrades the rating to A1 in the Long term considering improvement in asset quality and maintaining satisfactory liquidity over the period.
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