Categories: AfricaBankingFinance

Rwanda’s Largest Bank Strengthens Its Position

Global Credit Rating Co Upgrades Bank of Kigali’s Long Term Rating of A+ to AA- and reaffirms the Short Term Rating of A1.

On October 25th, Bank of Kigali, the largest bank in Rwanda by market share of total assets, loans, deposits and shareholders’ funds and the only rated company in Rwanda, announced that its long term rating has been upgraded to AA- while its short term rating has been maintained at A1 with a stable outlook by Global Credit Rating Co., the leading South African rating agency.

This is an important endorsement for the Bank and for the Rwandan economy. Bank of Kigali is providing key support to business and is helping Rwanda maintain its recent excellent growth record.

The AA- long term rating, upgraded from A+, reflects the Bank’s high credit quality and is based on the Bank’s strong capital base as well as diversified and quality earnings while the A1 short term rating is a result of excellent liquidity factors supported by good fundamental protection factors showing that the Bank’s likelihood of timely payment is certain. “We are pleased with the rating upgrade from GCR. This confidence in the Bank against a backdrop of a sluggish global economy is commendable for the Bank, its investors and our customers”, commented Chief Executive Officer, James Gatera.

CFI

Recent Posts

The Unseen Shift: How Creeping Normality Rewrites Our World

Gradual, barely perceptible shifts can normalise the unacceptable—reshaping everything from corporate decision-making to ecosystems and…

3 days ago

LegalOne: Driving Innovation and Financial Inclusion for National Development

LegalOne Global Limited has established itself as a trusted authority in independent ratings and business…

7 days ago

More Than a Bank: Banco Azteca as a National Platform for Social Resilience

A financial institution’s value is not proven in moments of calm—it is tested in moments…

1 week ago

Technology with a Human Touch: SegurCaixa Adeslas Reinforces Its Market Leadership through Innovation

SegurCaixa Adeslas strengthens its market dominance in Spain through a forward-looking strategy centred on digitalisation,…

2 weeks ago

China’s Silver Bullet: How ‘Silver Trains’ Could Boost the Economy

As the world’s most populous nation confronts an ageing demographic and navigates economic headwinds, including…

2 weeks ago

Berenberg Investment Consulting: Innovation at the Heart of Institutional Advisory

With centuries of banking tradition, Berenberg continues to evolve, combining deep expertise with technological innovation.…

3 weeks ago