Press Release

Ratings of Faysal Bank Limited

Karachi, February 24, 2011: JCR-VIS Credit Rating Company Limited has reaffirmed the entity ratings of Faysal Bank Limited (FBL) at ‘AA/A-1+’ (Double A /A-One Plus). Ratings of the unsecured, subordinated term finance certificates (Issue I & II) of FBL have also been reaffirmed at ‘AA-’ (Double A Minus). ‘Rating Watch-Developing’ status assigned in June 2010 has been removed. Outlook on the outstanding ratings is now ‘Stable’.

Following the successful acquisition and merger of The Royal Bank of Scotland (RBS) with FBL, the balance sheet footing of FBL has increased, with relatively lower cost deposits inherited from RBS improving the current overall cost of funds. Liquidity profile also stands improved. JCR-VIS will continue to track future trends in this respect.

Total outstanding amount of sub-ordinated debt including Rs. 600m acquired from RBS, now stands at Rs. 4.6b. Capitalization related indicators may be under some pressure and future strategy in lieu of this will be monitored by JCR-VIS.

For further information on this rating announcement, please contact Mr. Javed Callea (Ext: 501) or Ms. Sobia Maqbool, CFA (Ext: 506) at 92-21-35311861 or fax to 92-21-35311873.



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 2011 VIS Credit Rating Company Limited . All rights reserved. Contents may be used by news media with credit to VIS .