...Head Office Support-Driven: Habib Bank Limited - Sri Lanka Branch's (HBLSL) recently upgraded National Rating reflects the enhanced credit profile of the head office ¡ Habib Bank Limited (HBL) following Pakistan's sovereign rating upgrade (B-/Stable from CCC-), above that of Sri Lanka. This has rendered HBLSL's support-driven credit profile better than locally incorporated banks - as reflected in its National Rating which is placed above the highest-rated local banks. HBLSL's rating reflects our expectation of support, if needed, from HBL, Pakistan's largest bank. The rating is underpinned by HBLSL's status as a branch of HBL, being the same legal entity as HBL. The branch is therefore subject to any regulatory constraints on HBL remitting money from Pakistan into Sri Lanka. Our assessment also considers HBLSL's strong operational integration with HBL and its small size which makes up less than 1% of HBL's total assets. Limited Franchise; Loans to Grow: HBLSL's local operation is minimal,...
