The rating also considers the Bank's good liquidity position, strong ability to refinance, adequate capitalisation and satisfactory asset quality. We have also factored in
However, constraining the aforementioned positives are the obligor concentration in the loan book and the Bank's high operating cost profile. The assigned rating also reflects the impact of the harsh regulatory environment and prevailing macroeconomic headwinds accentuated by the COVID-19 pandemic.
We have attached a stable outlook to the rating of
The rating and outlook will be continually monitored to ascertain the impact of the adverse economic climate.
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