Page 153 - InterloopAnnualReport2021

NOTES TO THE

FINANCIAL STATEMENTS

For the year ended June 30, 2021

Name of Bank Date Long term Short term Outlook Agency

Allied Bank Limited 23-Jun-21 AAA A1+ Stable PACRA
Askari Bank Limited 25-Jun-21 AA+ A1+ Stable PACRA
Bank Alfalah Limited 26-Jun-21 AA+ A1+ Stable PACRA
Dubai Islamic Bank Pakistan Limited 30-Jun-21 AA A1+ Stable JCR-VIS
Faysal Bank Limited 30-Jun-21 AA A-1+ Stable JCR-VIS
Habib Bank Limited 30-Jun-21 AAA A-1+ Stable JCR-VIS
Habib Metropolitan Bank Limited 25-Jun-21 AA+ A1+ Stable PACRA
MCB Bank Limited 23-Jun-21 AAA A1+ Stable PACRA
MCB Islamic Bank Limited 23-Jun-21 A A1 Stable PACRA
Meezan Bank Limited 30-Jun-21 AAA A-1+ Stable JCR-VIS
National Bank of Pakistan 28-Jun-21 AAA A-1+ Stable JCR-VIS
Standard Chartered Bank
Pakistan Limited 25-Jun-21 AAA A1+ Stable PACRA
The Bank of Punjab 18-Jun-21 AA+ A1+ Stable PACRA
United Bank Limited 30-Jun-21 AAA A-1+ Stable JCR-VIS

Due to the Company’s long standing relationships with these counterparties and after giving due
consideration to their strong financial standing, management does not expect non-performance by
these counter parties on their obligations to the Company. Accordingly, the risk is minimal.

52.3 Liquidity risk
Liquidity risk is the risk that an entity will encounter difficulty in meeting obligations associated with
financial liabilities.

The Company’s approach to manage liquidity risk is to maintain sufficient level of liquidity by holding
highly liquid assets and the availability of funding through an adequate amount of committed credit
facilities. At June 30, 2021 the Company has Rs. 14,296 million (2020: Rs 12,870 million) unutilized
borrowing limits available from financial institutions and Rs. 374.442 million (2020: Rs. 150.787 million)
cash and bank balances. The management believes that the Company is not exposed to any liquidity
risk.

The following are the contractual maturity analysis of financial liabilities as at June 30, 2021 and 2020:

2021
Carrying Contractual Within 6 More than 6 More than 1
amount cash flows months months and year and
up to 1 year up to 5 year
(Rupees ‘000)

Financial Liabilities :
Long term financing 10,652,580 9,298,656 1,452,804 1,435,217 6,410,635
Lease liabilities 220,044 257,817 42,667 44,381 170,769
Trade and other payables 4,890,456 4,890,456 4,890,456 – –
Unclaimed dividend 4,004 4,004 4,004 – –
Accrued mark up 221,674 221,674 221,674 – –
Short term borrowings 19,636,066 19,636,066 19,636,066 – –
35,624,824 34,308,673 26,247,671 1,479,598 6,581,404

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