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Agusto & Co. assigns a “A+” rating to Coronation Merchant Bank Limited

Rating Release

Agusto & Co. assigns a “A+” rating to Coronation Merchant Bank Limited.

The rating expires on 30 June 2020.

The rating assigned to Coronation Merchant Bank Limited (‘Coronation MB’ or ‘the Bank’) is underpinned by good capitalisation, healthy asset quality, acceptable profitability and an experienced management team with a clear succession plan. The rating is however constrained by concentration in the loan book, volatile customer deposits and high funding costs.

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 to Agusto & Co.