Rating Release

Agusto & Co. affirms the ratings assigned to Parallex Bank Limited (“Parallex Bank” or “the Bank”) of “Bb+” (long term) and “B” (short term), with a stable outlook 

The ratings expire on 30 June 2026.

Agusto & Co. affirms the “Bb+” (long term) and “B” (short term) ratings assigned to Parallex Bank Limited (“Parallex Bank” or “the Bank”). The ratings reflect the weak profitability relative to industry standards, low impaired loan ratio, acceptable liquidity and depth of management experience. However, the rating is constrained by the high operating expenses relative to earnings, low market share, limited operating history as a regional commercial bank, and the current macroeconomic headwinds. We have also assigned a “3” ESG score as we believe environmental, social and governance issues have a significant impact on the Bank’s credit ratings.