Press Release
VIS Reaffirms Entity Ratings of Insight Securities (Private) Limited
Karachi, October 20, 2025: VIS Credit Rating Company Limited (VIS) has reaffirmed entity ratings of Insight Securities (Private) Limited at ‘BBB+/A2 (Triple B Plus/A Two). The long-term rating of ‘BBB+’ signifies adequate credit quality; Protection factors are reasonable and sufficient. Risk factors are considered variable if changes occur in the economy. Short-term rating of A2 signifies good likelihood of timely repayment of short-term obligations with sound short-term liquidity factors. Outlook on the assigned ratings is ‘Stable’. Previous rating action was announced on September 20, 2024.
Incorporated in 2006 as a private limited company, Insight Securities provides equity brokerage services in ready and future markets to local retail clients and institutional clients. The Company holds Trading Rights Entitlement Certificate (TREC) for Trading & Self Clearing Services granted by Pakistan Stock Exchange Limited (PSX). The Company operates from its offices in Karachi and provides both online and assisted trading services to its clients.
Assigned ratings reflect the elevated business risk of the brokerage sector, given its cyclicality, fragmented structure, intense competition, and strong regulatory oversight, with performance remaining closely tied to the country’s macroeconomic conditions. Assigned ratings also reflect the Company’s financial risk profile, with enhancement in the Company’s brokerage revenue, in line with the overall positive industry trend, while profitability was largely supported by realized and unrealized capital gains. Higher profitability coupled with cost control led to improvement in operational efficiency. The Company’s liquidity profile is considered adequate, while market risk is elevated as proprietary investments account for a significant part of the Company’s operations. Capitalization profile is supported by a sizeable equity base and marginally leveraged balance sheet. Going forward, sustained growth in revenue and profitability, alongside prudent management of market risk and maintenance of liquidity and capitalization profile, will remain important for the ratings.
For further information on this ratings announcement, please contact at 021-35311861-64 or email at info@vis.com.pk.
Applicable Rating Criteria: Broker Entity:
https://docs.vis.com.pk/Methodologies-2025/BrokerEntityRating.pdf
VIS Issue/Issuer Rating Scale
https://docs.vis.com.pk/docs/VISRatingScales.pdf