DataPro, the Technology-Driven Credit Rating Agency (CRA), has in its latest report assigned a Short-Term rating of A2 and Long-Term of BBB to TAJBank Limited with a Stable outlook.
The Rating shows Fair Financial Strength, Operating Performance, and Business Profile compared to the standard established by DataPro. In the opinion of the Rating Agency, the Bank can meet its ongoing obligations.
The DataPro Rating Committee approved the Rating after assessing the Company’s Financial Performance, Capital Adequacy, Asset Quality, Liquidity, Profitability, Corporate Governance & Risk Management, Risk Factors and Future Outlook of its current healthy profile in the medium to long-term period.
The bank’s performance gained traction in just six months of operation during 2021. Gross Earning recorded during this period already amounted to 84% of the previous year’s Total Income.
Aside from the Gross Earnings, other Key Financial Indicators had grown significantly as half year-end 2021. All other profitability indices also went up during the year under review.
The 2021 half-year result of the bank also revealed that the bank’s Profit Before Tax had gone up. The Rating of TAJBank Limited is supported by its Very Good Liquidity Position, Good Profitability and Asset Quality.
The Rating indicates Fair Credit Quality and adequate capacity for timely payment of financial commitments.