Providus Bank retains “A-” rating with stable outlook
A Credit Rating Agency (CRA), DataPro, has, in its latest report, affirmed Providus Bank Plc’s long-term rating of “A-” with a stable outlook for the year 2021/2022.
A statement by the firm explained that the “A-” indicates low risk, which shows very good financial strength, operating performance and business profile when compared to the standard established by DataPro.
It stated that Providus Bank Plc, in its opinion, has a strong ability to meet its ongoing obligations.
DataPro rating committee approved the rating after an assessment of the company’s financial performance, capital adequacy, asset quality, liquidity, profitability, corporate governance and risk management, as well as risk factors of its current healthy profile in the medium to long-term period.
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