Press Release

JCR-VIS Withdraws Entity Ratings of Burj Bank Limited

Karachi, October 31, 2016: JCR-VIS Credit Rating Company Limited has withdrawn the entity ratings of Burj Bank Limited (BBL) of ‘BBB+/A-2’ (Triple B Plus/A-Two) on account of merger with and into Al Baraka Bank (Pakistan) Limited. Previous rating action was announced on 6th May 2016.
For further information on this rating announcement, please contact the undersigned (Ext: 234) at 92-21-35311861 or Mr. Mohammed Khalid Ali (Ext: 241) at 92-21-35311861 or fax to 92-21-35311873.

Javed Callea

Applicable Rating Criteria: Rating Methodology - Commercial Banks (November 2015)

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 not an NRSRO and its credit ratings are not NRSRO credit ratings.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 2016 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