Coronation Merchant Bank Limited has been upgraded to an “A+” rating by Agusto & Co. This rating expires 30 June 2018.
The rating assigned to the Bank reflects good asset quality, marked improvement in profitability and good capitalization. The rating is also supported by a good liquidity profile as well as a skilled and stable management team. However, the rating is constrained by obligor concentration in the Bank’s loan book and a funding mix that is concentrated and largely skewed to rate sensitive purchased funds. The subdued macroeconomic climate and prevailing industry risks also impact negatively on the Bank’s rating.
The opinions expressed in this rating release do not represent investment or other advice and should therefore not be construed as such. Visit www.agusto.com for further information.
This rating release is transmitted to you for the sole purpose of dissemination through your newspaper/magazine/agency. The rating release may be used by you in full or in part without changing the meaning or context thereof but with due credit given to Agusto & Co.