Press Release

JCR-VIS finalizes rating of Basel 3 Tier 2 instrument by Silk Bank Limited

Karachi, November 20, 2018: Upon review of signed legal documents and finalized security features, JCR-VIS Credit Rating Company Limited has finalized the rating of ‘A-’ (Single A Minus) assigned to Silk Bank Limited’s (SBL) Basel 3 Tier-2 debt instrument. Outlook on the assigned rating is ‘Stable’. The previous rating action was announced on 24th April 2017.

For further information on this rating announcement, please contact the undersigned (Ext: 207) or Mr. Javed Callea (Ext: 201) at 35311861-70 (10 lines) or fax to 35311873.

Jamal Abbas Zaidi

Applicable Rating Criteria: PRIMER - Commercial Banks (March 2018)

Information herein was obtained from sources believed to be accurate and reliable; however, VIS Credit Rating Company Limited VIS does not guarantee the accuracy, adequacy or completeness of any information and is not responsible for any errors or omissions or for the results obtained from the use of such information.VIS, the analysts involved in the rating process and members of its rating committee do not have any conflict of interest relating to the rating(s)/ranking(s) mentioned in this report.VIS is paid a fee for most rating assignments. This rating/ranking is an opinion and is not a recommendation to buy or sell any securities. Copyright 2018 VIS Credit Rating Company Limited. All rights reserved. Contents may be used by news media with credit to VIS.

JCR-VIS Credit Rating Company Limited