Rating Release
Agusto & Co. hereby upgrade the rating of Globus Bank Limited to ‘A-‘, with a stable outlook
The rating expires on 30 June 2024.
Agusto & Co. hereby upgrade the rating of Globus Bank Limited (“Globus Bank” or “the Bank”) to “A-” underpinned by the Bank’s good capitalisation, good profitability despite macroeconomic headwinds, nil impaired loan ratio and experienced management team. Suppressing these positive factors are the obligor concentration in the loan book, low industry position and the volatile operating environment. A “3” ESG score has also been attached to the rating of Globus Bank, reflecting our view that environmental, social and governance issues have a material contribution to credit risk.