Prime Bank retains AAA, ST-1 credit ratings
Prime Bank PLC has once again secured the highest credit ratings—AAA for long-term creditworthiness and ST-1 for short-term creditworthiness—from the Credit Rating Agency of Bangladesh Limited (CRAB), underscoring its robust financial fundamentals.
CRAB's reaffirmation highlights Prime Bank's financial strength, solid capital base, sound asset quality, strong liquidity, prudent risk management, and resilient business performance, according to a press statement.
The AAA rating signifies the bank's capacity to meet long-term financial commitments, while the ST-1 rating signals the highest degree of certainty in the timely repayment of short-term obligations.
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CRAB's assessment covered financial and operational performance, governance, risk management framework, and overall business outlook prior to assigning the ratings.
Faisal Rahman, Chief Executive Officer of Prime Bank PLC, said, "Maintaining these ratings year after year reflects the strength of our fundamentals, the trust of our customers and stakeholders, and the dedication of our people."
"Prime Bank has consistently demonstrated the financial resilience and governance standards expected of a leading institution. Each reaffirmation endorses our commitment to sustainable growth, prudent risk management, and long-term value creation," he added.
Prime Bank noted that the continuation of the AAA and ST-1 ratings affirms its strong position within Bangladesh's banking sector.
The bank added that the ratings reinforce its reputation as a financially sound institution, capable of navigating changing market conditions and delivering long-term value for stakeholders.
