Sterling Bank

London, Capital Markets in Africa — Nigeria’s Sterling Bank Plc is likely to remain resilient to downside risks despite its rising problem loans, says Moody’s Investors Service in a report published today. Moody’s outlook on the bank is stable for the next 12-18 months. “The bank reported 1H2015 results that show a continued upward trend in the bank’s non-performing loans (NPLs) and highlights vulnerabilities in the bank’s asset quality given its rapid loan growth in…

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…