Press Release

JCR-VIS assigns ratings to Tameer Microfinance Bank Limited

Karachi, March 26, 2007: JCR-VIS Credit Rating Company Limited has assigned a medium to long-term credit rating of A- (Single A Minus) with a ‘Stable’ outlook and a short-term rating of A-2 (A Two) to Tameer Microfinance Bank Limited.

Ratings take into account the state-of-the-art information and control systems and requisite infrastructure that have been put in place. In our opinion, these have been instrumental in enabling growth as per original plan. Liquidity reserves and capitalization offer sufficient risk mitigation for creditors in the near-term and the bank’s access to long-term lines from multi-lateral bodies also appears strong. However, deposit mobilization will be critical for the long-term sustainability of the bank which requires a strong franchise in the retail market and can impact the bank’s capacity for growth, projected cost parameters as well as liquidity risk profile.

While delinquencies have remained marginal so far, with NPLs being nil at year-end 2006, the portfolio is not yet well-seasoned and quality characteristics of the portfolio will become more definable over time.

Ratings have been significantly supported by documented commitment by shareholders to inject fresh equity if need for it arises in 2007 or at any time thereafter.

For further information on this rating announcement, please contact Mr. Safdar Kazi (Ext: 221) or Ms. Sabeen Saleem (Ext: 222) at 5671822/5671833/5680996 or fax to 5681105/5671600.



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 2007 VIS Credit Rating Company Limited . All rights reserved. Contents may be used by news media with credit to VIS .