Dhaka, Sunday, May 5, 2024: BRAC Bank has retained the country's highest credit rating 'AAA' for three years on the trot from Bangladesh's most prominent agency - Credit Rating Agency of Bangladesh (CRAB) - manifesting its solid financial strength and stability.

CRAB has reaffirmed 'AAA' for the long-term and ST-1 for the short-term with a 'Stable' outlook for BRAC Bank. 'AAA' is the highest issuer credit rating assigned by CRAB in Bangladesh. This latest credit rating will be valid till June 30, 2025.

The rating demonstrates that the bank is stable and can meet its financial commitments on time. 'AAA is considered the highest quality with minimal credit risk.

CRAB cites strong fundamentals, including a strong ownership structure, good capitalization with strong tier 1 capital, a strong and stable low-cost deposit base, sound liquidity backed by a healthy funding profile, relatively lower large loan concentration, and a strong network of branches and alternate delivery channels.

Commenting on achieving Bangladesh's highest credit rating, the bank's Managing Director & CEO, Selim R. F. Hussain said: "We feel honoured to continue 'AAA' credit rating by CRAB. This unique achievement has resulted from the bank's continuous efforts towards improving and maintaining an industry-above capital base, better asset quality, exemplary corporate governance and superior liquidity position."

“Our esteemed stakeholders, including our valued customers, shareholders, regulators, and other partners, have played a pivotal role in our journey towards this credit rating excellence. Your unwavering trust and support have been instrumental in shaping us into what we are today. We are proud to share this achievement with you,” he added.

BRAC Bank stands tall in the banking industry, being the sole bank in Bangladesh with a credit rating equivalent to the Sovereign Rating, as affirmed by Moody's Investors Service. The bank is also the highest rated Bangladeshi bank by the world’s most renowned agency S&P Global Ratings. This unique position is a testament to our commitment to excellence and our contribution to the industry.

All stakeholders recognize BRAC Bank as a role model for corporate governance, compliance, transparency, and values-based banking in Bangladesh. The industry's best credit rating for consecutive years, highest investment by overseas investors, highest market capitalization, and recognitions from SAFA, ICAB, and ICMAB bear testimony to the bank's strong governance and robust financial strength and image on the local and global stage.