Rating Release
Agusto & Co. hereby assigns a “Bbb-” rating to Addosser Microfinance Bank Limited with a stable outlook
The rating expires on 30 June 2025
Agusto & Co. hereby assigns a “Bbb-” rating to Addosser Microfinance Bank Limited (“Addosser MFB”, “the MFB” or “the Bank”). The rating reflects Addosser MFB’s good asset quality evidenced by a relatively low ratio of impaired loans to gross loans and sufficient provisioning. The rating is also upheld by the MFB’s good profitability, adequate capitalisation and stable and experienced management team. However, the rating is constrained by the concentration in the Bank’s deposit liabilities and considerable reliance on wholesale funds in a rising interest rate regime.
