Banking | - Part 125

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

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

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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

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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…

Sub-Saharan Africa banking sector has strong regional growth prospects

Posted on by The Editorial Team

London (Capital Markets in Africa):- Sub-Saharan Africa’s fast-expanding banking sector has strong potential to continue its recent growth trend, boosted by robust economies and widening financial inclusion, Moody’s Investors Service said in a report published today. The report, entitled “Banking – Credit Trends in Sub-Saharan Africa”, is now available on www.moodys.com. Moody’s subscribers can access this report via the link at the end of this press release. The research is an update to the markets…

Moody’s assigns Counterparty Risk Assessments to five Egyptian banks

Posted on by The Editorial Team

Cairo, Egypt (Capital Markets in Africa):- Moody’s Investors Service has today assigned Counterparty Risk Assessments (CR Assessments) to five Egyptian banks. It has assigned CR Assessments of B3(cr) to the government-owned National Bank of Egypt SAE, Banque Du Caire SAE, and Banque Misr SAE; B2(cr) to Commercial International Bank (Egypt) SAE (CIB); and B1(cr) to Bank of Alexandria SAE (Alex Bank). Concurrently Not-Prime (cr) short-term CR Assessments have been assigned to all the banks. This…

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