Press Release

JCR-VIS maintains Rating Watch Developing Status of Kashf Microfinance Bank Limited

Karachi, January 24, 2011: JCR-VIS Credit Rating Company Limited (JCR-VIS) has maintained the ‘BBB/A-3’ (Triple B / A-Three) ratings of Kashf Microfinance Bank Limited (KMBL) on ‘Rating Watch Developing Status’.

The ratings had been placed on ‘Rating Watch-Developing’ status on September 6, 2010, on account of losses expected as a consequence of floods in 2010. Though, the bank has not reported any meaningful losses till to-date, the rating continues to be under ‘Rating Watch’ due to non-compliance with the regulatory minimum capital requirement as of December 31, 2010. While plans are afoot to meet the existing requirement shortly, a concrete plan for further capital injection in line with increased minimum capital requirement is yet to be made available.

For further information on this rating announcement, please contact Ms. Sabeen Saleem (sabeen@jcrvis.com.pk) or Mr. Maimoon Rasheed (maimoon@jcrvis.com.pk) at 021-5311861 and 042-6610681-84 or fax to 021-5311873.



Faheem Ahmad
President & CEO

Information herein was obtained from sources believed to be accurate and reliable; however, VIS Credit Rating Company Limited (VIS) does not guarantee the accuracy, adequacy or completeness of any information and is not responsible for any errors or omissions or for the results obtained from the use of such information. VIS, the analysts involved in the rating process and members of its rating committee do not have any conflict of interest relating to the rating(s)/ranking(s) mentioned in this report. VIS is paid a fee for most rating assignments. This rating/ranking is an opinion and is not a recommendation to buy or sell any securities. Copyright January 24, 2011 VIS Credit Rating Company Limited. All rights reserved. Contents may be used by news media with credit to VIS.