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IPDC awarded prestigious AAA rating
IPDC awarded prestigious AAA rating
IPDC Finance Limited, the first financial institution of Bangladesh, has been awarded with the prestigious rating AAA in the long term, and ST-1 in the short term, from Emerging Credit Rating Limited. AAA is the highest possible rating and reflects issuer’s current capacity to meet its debt obligations and has an extremely low solvency risk from changes in business, financial, or economic conditions.
The assigned rating represents the strength of the Company, which is backed by experienced Board of Directors, good asset quality with normal amount of non-performing loan (NPL), good capital base with high tier-1 capital and CRAR, well-organized management team, specialization and competence in industrial investment.
IPDC Finance Limited is the first private sector financial institution of the country established in 1981 by a distinguished group of shareholders namely International Finance Corporation (IFC), USA, German Investment and Development Company (DEG), Germany, The Aga Khan Fund for Economic Development (AKFED), Switzerland, Commonwealth Development Corporation (CDC), UK and the Government of Bangladesh.
Since its inception, IPDC has played a pivotal role in developing the country’s industrial landscape. The current shareholders of IPDC include, Government of the Peoples’ Republic of Bangladesh (GOB) (21.88%), BRAC (25%), Ayesha Abed Foundation (10%), RSA Capital (5%), Institutions (25.99%), Foreign (2.84%) and General Public (9.30%).
Mominul Islam, Managing Director and CEO, IPDC Finance Limited said, “Getting the highest rating despite the current financial situation speaks of the strength of the company and the quality of the assets and we at IPDC promise to uphold that.”