KARACHI (PR): JCR-VIS Credit Rating Company Limited (JCR-VIS) has maintained the medium to long-term entity rating of The Bank of Khyber (BoK) at ‘A’ (Single A). Short-term rating has been upgraded from ‘A-2’ (A-Two) to ‘A-1’ (A-One). Outlook on the assigned ratings is ‘Stable’.

The assigned ratings take into account the implicit financial support from the primary sponsor – Government of Khyber Pakhtunkhwa (KPK) – which has a stake of 70% in the bank. Support from KPK is evident in the form of equity injection, when needed, and placement of sizeable deposits with the bank. Furthermore, since 2012, KPK is exclusively availing financing for commodity operations from BoK. Internal capital generation has further augmented capitalization levels and capital adequacy ratio at current level provides considerable cushion for growth.