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Agusto & Co. assigns “Aa-” rating to United Bank for Africa Plc

Rating Release  

Agusto & Co. assigns “Aa-” rating to United Bank for Africa Plc

The Rating expires on 30 June 2019.

 

The rating assigned to United Bank for Africa Plc. (“UBA” or “the Bank”) by Agusto & Co. is underpinned by the Bank’s strong domestic franchise, strong liability generation capabilities, good capitalisation and competent management team. The rating also reflects the fragile macroeconomic climate in which the Bank operates and the threat on asset quality, as well as its high cost of operations.

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.

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.