Press Release

JCR-VIS places BBB+/A-3 ratings of Pak Oman Microfinance Bank Limited on Rating Watch – Negative Status

Karachi, April 8, 2009: JCR-VIS Credit Rating Company Limited (JCR-VIS) has placed the ‘BBB+/A-3’ (Triple B Plus / A-Three) ratings of Pak Oman Microfinance Bank Limited (POM) under ‘Rating Watch – Negative Status’. Previously, Outlook on the ratings was ‘Negative’.

The equity of POM is below the minimum capital requirement of Rs. 500m, as prescribed by the State Bank of Pakistan, on account of losses accumulated since inception. The rating action has been taken as the bank has not been able to implement the equity injection plan by December 2008 as communicated previously. The ratings of POM are presently under review by JCR-VIS and further updates to the ratings will be communicated shortly.

For further information on this rating announcement, please contact the undersigned (Ext: 501) or Ms. Sabeen Saleem (Ext: 510) at 5311861-70 or fax to 5311873.



Safdar Kazi
Director

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