Prime Bank retains highest AAA and ST-1 ratings

Prime Bank PLC has retained the highest credit rating of AAA (Triple A) for long-term creditworthiness from Credit Rating Agency of Bangladesh Limited (CRAB).

The bank has also retained the short-term rating of ST-1, reaffirming its strong financial fundamentals, prudent risk management and sustained business performance for another consecutive year, according to a press release.

The reaffirmation reflects Prime Bank’s sustained financial strength, robust capital position, sound asset quality, strong liquidity, prudent risk management practices and consistent business performance.

The AAA rating indicates the bank’s exceptionally strong capacity to meet its long-term financial commitments, while the ST-1 rating represents the highest level of certainty regarding the timely repayment of short-term obligations.

CRAB conducted a comprehensive assessment of the bank’s financial and operational performance, governance standards, risk management framework and overall business outlook before assigning the ratings.

Commenting on the bank’s achievement, Faisal Rahman, chief executive officer of Prime Bank PLC, said, “Maintaining these ratings year after year reflects the strength of our fundamentals, the trust of our customers and stakeholders, and the unwavering dedication of our people.”

“While Prime Bank has consistently demonstrated the financial resilience and governance standards expected of a leading institution, we value every reaffirmation as an endorsement of our commitment to sustainable growth, prudent risk management and long-term value creation,” he added.

The continuation of the AAA and ST-1 ratings underscores Prime Bank’s consistent performance and strong position within Bangladesh’s banking industry.

The ratings also reinforce the bank’s reputation as a trusted and financially sound institution capable of navigating evolving market conditions while creating long-term value for its stakeholders.