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PACRA upgrades Bank of Punjab rating to AAA

PACRA lifted Bank of Punjab's long-term entity rating from AA+ to AAA, making it the first provincial bank to reach Pakistan's top credit tier. The upgrade reflects PKR 2tn+ deposits and near-doubled operating profit of PKR 40.7bn.

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About State Bank of Pakistan (SBP)

Pakistan's central bank. It sets monetary policy, manages foreign exchange and remittances, and regulates the banking system through which most withholding taxes are collected.

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