Rating Release
Agusto & Co. affirms the “B-” rating assigned to Keystone Bank Limited, with a stable outlook
The rating expires on 30 June 2023.
Agusto& Co. hereby affirms the “B-” rating assigned to Keystone Bank Limited (‘Keystone Bank’ or ‘the Bank’). The rating reflects the experienced management team overseeing the turnaround of the Bank’s performance and strong retail franchise. The rating also recognises the lack of any capital buffer to absorb shocks and support growth plans, particularly in a period of heightened risks and weak macroeconomic fundamentals. In addition, the rating is constrained by Keystone Bank’s lingering asset quality issues andweak profitability.
We have also assigned an ESG score of “3” as we adjudged environmental, social and governance issues to have a material contribution to the rating of Keystone Bank.
