Credit Ratings of Banks, DFIs and MFBs updated as of December 18, 2013

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Public Sector Banks 2 1 4 National Bank of Pakistan The Bank of Khyber First Women Bank Limited JCR-VIS PACRA PACRA A-1+ A-1 A3 A1 A2 AAA AAA A AJune, 2013 June, 2013 June, 2013 Rating Outlook - Stable Rating Outlook - Stable Rating Outlook - Stable

Bank/ DFI/ MFB

Rating Agency

Short Term

Long Term

Date of Rating

Remarks

Sindh Bank Limited The Bank of Punjab SME Bank Limited

JCR-VIS PACRA

Specialized Banks 6

JCR-VIS PACRA

A-1+ A1+ A-1+ A-2

June, 2013 June, 2013 July, 2013 Dec, 2013 June, 2013

Private Sector Banks 9 8

Zarai Taraqiati Bank Limited

JCR-VIS

JCR-VIS PACRA PACRA

AAA A

BBB

AA-

Rating Outlook - Stable

April, 2013

Rating Outlook - Negative

10 Bank Alfalah Limited 12 Faysal Bank Limited

11 Bank Al-Habib Limited 13 Habib Bank Limited

Askari Bank Limited

Allied Bank Limited

PACRA PACRA

A1+ A1+ A1+

A1+

AA+ AA+ AAA BBB AAAAAAA A AA+ A+ AA AA AA AA

17 MCB Bank Limited 18 NIB Bank Limited 20 SilkBank Limited

16 KASB Bank Limited

14 Habib Metropolitan Bank Limited 15 JS Bank Limited

JCR-VIS PACRA PACRA PACRA

JCR-VIS

PACRA

A-1+ A1+ A3 A1

A-1+

A1+

June, 2013 June, 2013 June, 2013

June, 2013 July, 2013

GoP Guaranteed Obligations Rating Outlook - Stable Entity Rating Rating Outlook - Stable _ _ _ _ -

19 Samba Bank Limited 21 Soneri Bank Limited 22 Standard Chartered Bank (Pakistan) Limited 23 Summit Bank Limited

JCR-VIS JCR-VIS JCR-VIS PACRA PACRA

PACRA

PACRA

A1+ A-1 A-2

A1+ A1+ A-3

AAA

June, 2013 Feb, 2013

June, 2013

June, 2013 June, 2013

June, 2013

June, 2013 June, 2013 June, 2013 June, 2013 June, 2013 July, 2013

Rating Outlook - Stable _

Rating Outlook - Stable Rating Outlook - Stable Rating Outlook - Stable Rating Outlook - Stable Rating Outlook - Stable _ -

Rating Outlook - Stable

Rating Outlook - Stable

Foreign Banks operating in Pakistan 25 Barclays Bank Pakistan

24 United Bank Limited

Standard & Poors Moodys Fitch Moodys Fitch Fitch

JCR-VIS

A-1+ A-1 P-1 F1 P-2

A1+

AAA AA+ A2 A

AA-

June, 2013 June, 2013

Rating Outlook - Stable _ _

26 Citibank N.A.

27 Deutsche Bank AG 28 HSBC Bank Middle East Limited

Standard & Poors Moodys Moodys Fitch

F1+ P-1 F1 P-1

A-1 P-1

A2

A3

September, 2013 April, 2013 May, 2013 July, 2013

June, 2013

June, 2013

29 Industrial and Commercial Bank of China 30 Oman International Bank S.A.O.G.

Moodys

F1+ P-2 F1

AAA1 A+ A3 A A

A+ A2

Rating Outlook - Stable Rating Outlook - Stable Rating Outlook - Stable

_ _

December, 2012 December, 2012 June, 2013 June, 2013 May, 2013

Rating Outlook - Stable Rating Outlook - Stable Rating Outlook - Stable Deposit rating only* _ _ _ Rating Outlook - Stable

Islamic Banks

31 The Bank of Tokyo-Mitsubishi-UFJ, Limited 32 Albaraka Bank (Pakistan) Limited

Standard & Poors Moodys PACRA Fitch

Moody's

Rating Outlook - Stable

P-1* A1

A-1

Aa3

A+

March, 2013 March, 2013 June, 2013 July, 2013

March, 2013 June, 2013

34 Burj Bank Limited

Development Finance Institutions

35 Dubai Islamic Bank Pakistan Limited 36 Meezan Bank Limited

33 BankIslami Pakistan Limited

JCR-VIS JCR-VIS JCR-VIS PACRA JCR-VIS

JCR-VIS PACRA

38 Pak Brunei Investment Company Limited 39 Pak China Investment Company Limited 40 Pak Kuwait Investment Company 42 Pak Oman Investment Company 43 PAIR Investment Company

37 House Building Finance Corporation

A-1+ A-1+ A1+ A-2

A-1 A-1

A-1 A1

AA AA+ AAA

A A

June, 2013 June, 2013 July 2012

June, 2013 June, 2013

Rating Outlook - Positive Rating Outlook - Stable Rating Outlook - Stable Rating Outlook - Positive

Rating Outlook - Stable

JCR-VIS

41 Pak Libya Holding Company (Pvt.) Limited Saudi Pak Industrial & Agricultural Investment Corporation (Pvt.) Limited Microfinance Banks 44 2 1 Apna Microfinance Bank Limited Khushhali Bank Limited Advans Microfinance Bank Limited Kashf Microfinance Bank Limited

JCR-VIS PACRA

PACRA JCR-VIS PACRA JCR-VIS PACRA -

A-1+ A1+

A1+ A-1+ A1+

AAA AAA AAAA+ AA AA

August, 2013 June, 2013 June, 2013 June, 2013 June, 2013 May, 2013 May, 2013 June,2013

Rating Watch - Developing Rating Outlook - Stable _ Rating Outlook - Stable Rating Outlook - Stable Rating Outlook - Stable

Rating Outlook - Stable

A-1+ A3 -

Rating Outlook - Positive -

6 7

4 5 8 9

Pak Oman Microfinance Bank Limited Tameer Microfinance Bank Limited The First Microfinance Bank Limited Waseela Microfinance Bank Limited

NRSP Microfinance Bank Limited

JCR-VIS PACRA

JCR-VIS JCR-VIS

JCR-VIS JCR-VIS

JCR-VIS

A-1 A-3 A-3 A-1 A-1 A2

A-3

BBB+ BBB+ BBB+ BBB+ A A A

BBB

April, 2013

April, 2013 April, 2013

April, 2013 April, 2013 April, 2013

Rating Outlook - Positive Rating Outlook - Stable Rating Outlook - Positive Rating Outlook - Stable Rating Outlook - Stable Rating Outlook - Stable Rating Outlook - Stable

10 U Microfinance Bank Limited JCR-VIS A-2 BBB + April, 2013 Rating Watch - Positive Disclaimer: The above mentioned ratings represent the opinions of the respective rating agencies and do not reflect the views of the State Bank of Pakistan. Besides they also do not represent investment advice nor should be construed as such. E-mail: tahir.naeem@sbp.org.pk Contact Person: Tahir Naeem

April, 2013

Rating Outlook - Positive