KARACHI: VIS Credit Rating Company Limited (VIS) has reaffirmed the corporate governance rating of Allied Bank Limited (ABL) at “CGR-9+”. The rating signifies a very high level of corporate governance. The assigned rating incorporates a well-established corporate governance framework rolled out by the bank supplemented by strong financial transparency and effectively functioning board and management level committees. The management team of the institution comprises seasoned professionals; stability in the same is a key rating contributor. The rating takes comfort from a structured succession plan in place resulting in the smooth transition of responsibilities in the hierarchical pyramid.

Source: Pakistan Today December 29, 2020 16:52 UTC