Karachi, December 8, 2017: JCR-VIS Credit Rating Company Ltd. (JCR-VIS) has assigned initial Broker Management Rating of ‘BMR2+’ to BMA Capital Management Limited (BMA). Outlook on the assigned rating is ‘Stable’.

The rating signifies strong HR & IT services; sound regulatory compliance levels, internal and external control framework, client relationship and risk management while financial management is adequate.

Assigned rating reflects BMA’s compliance to regulations and quality of board level governance to be sound; however, improvement in board composition and formation of board level Risk Management and Human Resources committee would further enhance governance. Although internal control framework remains strong, the same may be further strengthened by greater documentation and broadening the scope of policy reviews. Financial performance remains a function of focus on diversification of revenue streams, leverage indicators and monitoring of efficiency levels.

For further information on this rating announcement, please contact the undersigned (Ext: 201) at (021)35311861-71 or fax to (021)35311872-3.



Javed Callea
Advisor

Applicable Rating Criteria: Broker Management Ratings 2017
http://jcrvis.com.pk/docs/BMR201701.pdf

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