Agusto & Co. assigns a “Bbb-“ rating to Mainstreet Microfinance Bank Limited
The rating expires on 30 June 2019.
The rating of Mainstreet Microfinance Bank (“Mainstreet” or “the MFB”) is underpinned by good capitalisation, good profitability, satisfactory asset quality, satisfactory liquidity profile and a stable management team. The rating is tempered by weak risk management practices around bank placements and manual loan approval and collection processes as well as a narrow funding base that restricts the ability of the MFB to effectively grow its loan book
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