Amen Bank
AB
AB
The rating on Tunis-based Amen Bank was recently upgraded, constrained by tight liquidity, African Manager reported, according to Capital Intelligence (CI).
The Bank’s Financial Strength Rating (FSR) was affirmed at 'B+', backed by the stake and capital injection from the International Finance Corporation (IFC), with stronger profitability and improved loan asset quality.
Moreover, the Bank’s long-term foreign currency rating was maintained at 'B+', while its short-term foreign currency rating was affirmed at 'B'.
The Outlook for all ratings reached the level 'Positive' from 'Stable' on account of improving loan asset quality and coverage, and stronger profitability. Meanwhile, the Support Level was raised to '3' from '4', reflecting a level of support either from the majority owners and/or the Tunisian authorities.
Noteworthy, Amen Bank’s main weaknesses were revealed as loan asset quality and liquidity.
Photo Credit: Arabianeye-Reuters
The Bank’s Financial Strength Rating (FSR) was affirmed at 'B+', backed by the stake and capital injection from the International Finance Corporation (IFC), with stronger profitability and improved loan asset quality.
Moreover, the Bank’s long-term foreign currency rating was maintained at 'B+', while its short-term foreign currency rating was affirmed at 'B'.
The Outlook for all ratings reached the level 'Positive' from 'Stable' on account of improving loan asset quality and coverage, and stronger profitability. Meanwhile, the Support Level was raised to '3' from '4', reflecting a level of support either from the majority owners and/or the Tunisian authorities.
Noteworthy, Amen Bank’s main weaknesses were revealed as loan asset quality and liquidity.
Photo Credit: Arabianeye-Reuters
Source:
Mubasher
