Banking | - Part 125

Moody’s Assigns First-Time Ratings to Nigeria’s Sterling Bank

LAGOS, Nigeria (Capital Markets in Africa) —- Moody’s Investors Service has today assigned first-time ratings to Sterling Bank plc (Sterling): B2/Not Prime Local and Foreign Currency issuer and deposit ratings, which are underpinned by a b3 Baseline Credit Assessment (BCA). The outlook on all ratings is stable. Moody’s also assigned a Counterparty Risk Assessment (CRA) of B1(cr)/Not Prime(cr). Sterling Bank’s b3 BCA reflects (1) solid asset quality metrics and provision coverage; (2) improvements to the…

The Lafferty rating rates Nigerian banks ahead US, S/Africa, Europe, Australia, Canada in quality

Posted on by The Editorial Team

Lagos, Nigeria (Capital Markets in Africa) — In terms of their overall quality, Lafferty Bank Ratings reports that Nigerian banks rank well among banks across the world. A cross-border comparison shows that Nigeria ranks about 34.0, higher than South Africa which ranks 30.0, Canada 23.0, United States 20.0, Australia 22.0, and Europe 18.0. Nigerian banks’ financial ratios are particularly good and Michael Lafferty, chairman, Lafferty Group, reckons that the banks’ overall ratings will improve considerably…

Moody’s affirms BMCE’s deposit ratings; changes the outlook to stable from negative

Posted on by The Editorial Team

Casablanca, Morocco (Capital Markets in Africa) — Moody’s Investors Service has today affirmed and changed the outlook to stable from negative on the Ba1 long-term local-currency deposit rating and senior unsecured debt rating of BMCE Bank. Concurrently, Moody’s affirmed BMCE’s ba3 baseline credit assessment (BCA), its Ba2 long-term foreign currency deposit rating, the short-term local and foreign-currency Not-prime ratings and its B1 foreign subordinate debt rating. In light of the revised bank rating methodology, published…

Moody’s confirms African Bank’s Caa2 global scale deposit ratings; negative outlook

Posted on by The Editorial Team

Johannesburg, South Africa (capital Markets in Africa) — Moody’s Investors Service has today confirmed African Bank Limited’s Caa2 global scale long-term deposit and senior unsecured ratings, and the Caa2.za national scale issuer ratings. The global scale ratings continue to capture the implied losses of 10% that SARB’s restructuring plan will impose on both senior debt and wholesale deposits. Today’s rating action concludes the review for downgrade on African Bank’s ratings, initiated on 12 August 2014….

Wealthy Africans boost need for niche financial services

Posted on by The Editorial Team

Johannesburg, South Africa (Capital Markets in Africa) :- UBS Group AG, the Swiss company that says it banks more billionaires than any other, said wealthy Africans are rapidly adding to the ranks of the rich on the continent and this rise has seen them needing more specialised financial services. Key markets on the continent for UBS include Nigeria and South Africa, plus an East African block covering Kenya, Tanzania and Uganda, Martin Emodi, the bank’s…

Standard Chartered will invest Millions to boost retail business says Group Head of Retail

Posted on by The Editorial Team

Nairobi (Capital Markets in Africa): – Standard Chartered will spend “hundreds of millions of dollars” in the years ahead to raise the share of income from its retail business 10 percentage points by 2020, its group head of retail clients said. Karen Fawcett said the lender, which focuses on Asia, Africa and the Middle East, would invest the money in areas such as technology to raise the share of retail business income from 30 percent now….

Nigeria’s central bank holds interest rate at 13 pct

Posted on by The Editorial Team

Abuja, Nigeria (Capital Markets in Africa):- Nigeria’s central bank held its benchmark interest rate unchanged at 13 percent on Tuesday, stressing the need to preserve foreign exchange reserves that have been depleted in recent months to support a weakening naira. At the last policy meeting before president-elect Muhammadu Buhari takes office in Africa’s largest oil producer on May 29, central bank governor Godwin Emefiele said it was not possible for the regulator to intervene on…

« 1 … 123 124 125 126 127 128 »