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Agusto & Co. has affirmed the “A-” rating assigned to Lapo Microfinance Bank Limited

Rating release

Agusto & Co. has affirmed the “A-” rating assigned to Lapo Microfinance Bank Limited.

The Rating expires on 30 June 2019.

 

The rating assigned to LAPO Microfinance Bank (‘LAPO’ or ‘the Bank’) reflects the Bank’s strong market position, good capitalisation, good liquidity and funding profile. However, the rating is constrained by the rising level of impaired loans, increasing operating costs and the impact of low BVN compliance on loan disbursements and profitability. The rating is also tempered by the fragile but improving economy which continues to impact the quality of the loan portfolio.

 

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.

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.