Fitch assigns Habib Bank – Sri Lanka Branch first-time National Rating of ‘A(lka)’; Outlook Stable

Fitch Ratings has assigned Habib Bank Limited – Sri Lanka Branch (HBLSL) a first-time National Long-Term Rating of ‘A(lka)’. The Outlook is Stable.

Parental Support Drives Rating: HBLSL’s rating reflects Fitch’s expectation of support, if required, from the head office of Habib Bank Limited (HBL), Pakistan’s largest bank.

The rating is underpinned by HBLSL’s status as a branch of HBL, which means it is part of the same legal entity as HBL, subject to any regulatory constraints on HBL remitting money from Pakistan into Sri Lanka.

Fitch’s assessment factors in the parent’s credit profile, which is constrained by the Pakistan sovereign rating of ‘CCC’, given the bank’s interconnectedness with the state.

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