JCR-VIS To Update On Ratings Of Commercial Banks Under Investigation
Mohammad Ali (@ChaudhryMAli88) Published July 11, 2018 | 03:18 PM
JCR-VIS Rating Company is closely monitoring the recent and upcoming developments regarding the on-going investigation initiated by Federal Investigation Agency against three commercial banks -- Summit Bank Limited,
KARACHI, (UrduPoint / Pakistan Point News - 11th Jul, 2018 ) :JCR-VIS Rating Company is closely monitoring the recent and upcoming developments regarding the on-going investigation initiated by Federal Investigation Agency against three commercial banks -- Summit Bank Limited, Sindh Bank Limited and United Bank Limited.
JCR-VIS will be updating the investors about the development, said press release on Wednesday.
JCR-VIS believes that the on-going investigation could have material negative implications on the franchise of these banks. Comfort is drawn from State Bank of Pakistan's press release dated July 09, 2018 whereby it has confirmed that SMBL is continuing to meet obligations towards depositors and the regulator remains committed to safeguarding the interest of depositors.
Ratings of Banks involved in the investigation will be reviewedwith the unfolding of events in this matter.
Related Topics
Recent Stories
Senate continues discussion on Presidential address to Joint Sitting of Parliame ..
Masood Khan calls for Pak-US cooperation for regional peace
Interior Minister starts Margalla Trail Patrol for security
Currency Rate In Pakistan - Dollar, Euro, Pound, Riyal Rates On 26 April 2024
Today Gold Rate in Pakistan 26 April 2024
ICC Womens T20 World Cup Qualifier, Match 2: Ireland Women open with Comfortable ..
Robinson, bowlers help New Zealand go 2-1 up against Pakistan
Shahzeb Chachar to hold khuli kachehri on April 26
Heatwave amid Israel's aggression in Gaza brings new misery, disease risk
Tourism must change, mayor says as Venice launches entry fee
Court adjourns Judicial Complex attack case till May 17
Nasreen Noori’s book ‘Popatan Jahra Khwab’ launched
More Stories From Business
-
Machinery equipment assembling grew by 70.98% in 08 months
7 minutes ago -
Gold rates up by Rs.2,500 per tola to Rs245,000
17 minutes ago -
Miner Anglo American rejects BHP's $38.8 billion takeover bid
47 minutes ago -
Exchange rates for currency notes
3 hours ago -
Foreign exchange rates
3 hours ago -
Currency Rate In Pakistan - Dollar, Euro, Pound, Riyal Rates On 26 April 2024
4 hours ago
-
Today Gold Rate in Pakistan 26 April 2024
4 hours ago -
Chinese minister felicitates Ahsan Iqbal on reappointment as Planning minister
13 hours ago -
Pak-US officials engage to enhance trade, investment ties
14 hours ago -
Stocks fall as tech shares sink, US economy slows
15 hours ago -
Higher taxes, awareness help decrease cigarettes sale in Pakistan
16 hours ago -
Ahsan Iqbal chairs CPEC JWGs, 13th JCC review-meeting
16 hours ago