JCR-VIS Credit Rating Company Limited has upgraded the entity ratings of FINCA Microfinance Bank Limited. The short term credit rating has increased from A-2 to A-1. Meanwhile, the long term rating has been boosted from A- to A. These are encouraging signs for the current outlook and future growth of FINCA in Pakistan. Our outlook on the assigned ratings has been classified as ‘Stable’.
The ratings assigned to FINCA Pakistan take into account improvement in core areas of the bank including its market share, asset quality, deposit concentration and overheads. Ratings continue to draw comfort from its association with FINCA International, a global microfinance organization operating in 21 countries worldwide. Sponsor support has been demonstrated in the past with equity injection to support bank’s growing operations while the bank also enjoys technical support from its sponsor emanating from FINCA’s global experience in microfinance.