Bank of Punjab Upgraded to AAA by PACRA; Outlook Stable

Pakistan Credit Rating Agency (PACRA) has upgraded the Bank of Punjab’s long-term credit rating from AA to AAA, retained its short-term rating at A1+, and assigned a stable outlook. The announcement, issued in Lahore, makes the Bank of Punjab the first and only provincial bank in Pakistan to attain the country’s highest credit rating.

CEO Zafar Masood attributed the upgrade to sustained deposit growth, improved profitability and strengthened risk management. The bank noted its leading role as a digital lender and its financial support for SMEs, agriculture, women’s economic empowerment and low-cost housing, and expressed gratitude to the Government of Punjab and Chief Minister Maryam Nawaz for their support.