Following is the text of press release issued by
SBP is also the major lender to the institution, with credit lines made available by SBP having been guaranteed by the Government of
With restricted lending activities whereby only partial recovery proceeds in any given year have been utilized for fresh disbursements, gross loan portfolio has depicted a declining trend over the last 5 years. Meanwhile, the company has accumulated a sizeable portfolio of marketable securities; liquid assets in relation to borrowings, including payables to SBP, stood at 70% at end FY13.
The ratings continue to be placed under 'Rating Watch-Developing' status due to the company's on-going negotiations with SBP and MoF pertaining to the shortfall vis-Ã -vis the minimum capital requirement and the status of SBP's credit lines.
Given the strategic nature of the institution, it may reasonably be expected that mechanism for pay back of credit lines will take into account the financial viability of the institution itself as these credit lines are the primary source of funding for HBFC.
For more information, contact:
Tel: at 021-35311861-70
Fax: +9221 35311872-3
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