Credit Rating Agency of Bangladesh Limited (CRAB) has upgraded the long term rating of Uttara Bank Limited to “AA3” (pronounced as Double A three) from A1 and retained the Short Term rating at “ST-2” for the year 2011.

A comparative position of the credit Rating of Uttara Bank Ltd. for the year 2011 and 2010 is furnished below.

Commercial Banks rated “AA3” have very strong capacity to meet their financial commitments. AA3 is judged to be of very high quality and is subject to very low credit risk. Commercial Banks rated ST-2 are considered to have strong capacity for timely repayment. Commercial Banks rated in this category are characterized with commendable position in terms of liquidity, internal fund generation, and access to alternative sources of funds. The rating reflects the Bank’s strength in risk weighted capital adequacy, satisfactory profitability, improving trend in asset quality and surplus provision.